Enliven Therapeutics (NASDAQ:ELVN) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $42.28 and traded as high as $44.37. Enliven Therapeutics shares last traded at $43.69, with a volume of 3,308,431 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Guggenheim reaffirmed a “buy” rating on shares of Enliven Therapeutics in a research report on Thursday, October 8th. The Goldman Sachs Group boosted their price objective on Enliven Therapeutics from $67.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Thursday, October 15th. Barclays started coverage on Enliven Therapeutics in a research note on Tuesday, August 18th. They set an “overweight” rating and a $78.00 price objective on the stock. Finally, Mizuho increased their target price on Enliven Therapeutics from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.44.

Enliven Therapeutics Trading Up 0.7%

The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -26.99 and a beta of 0.24. The stock has a 50-day moving average of $49.28 and a 200-day moving average of $42.38.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). As a group, research analysts expect that Enliven Therapeutics, Inc. will post -1.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director J. Scott Garland sold 13,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $46.67, for a total value of $606,710.00. Following the completion of the transaction, the director directly owned 13,000 shares of the company’s stock, valued at $606,710. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mika K. Derynck sold 158,795 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.21, for a total value of $9,561,046.95. Following the completion of the sale, the director owned 87,373 shares in the company, valued at approximately $5,260,728.33. This represents a 64.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 189,849 shares of company stock valued at $11,054,870. Insiders own 3.00% of the company’s stock.

Institutional Trading of Enliven Therapeutics

Several hedge funds have recently added to or reduced their stakes in ELVN. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Enliven Therapeutics in the 3rd quarter worth approximately $172,000. Profund Advisors LLC lifted its stake in Enliven Therapeutics by 260.8% during the third quarter. Profund Advisors LLC now owns 27,874 shares of the company’s stock valued at $1,278,000 after purchasing an additional 20,148 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Enliven Therapeutics by 29.5% during the third quarter. ProShare Advisors LLC now owns 9,852 shares of the company’s stock worth $452,000 after buying an additional 2,246 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Enliven Therapeutics by 37.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,369 shares of the company’s stock worth $622,000 after buying an additional 3,676 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Enliven Therapeutics by 1,180.7% in the third quarter. Sterling Capital Management LLC now owns 1,921 shares of the company’s stock worth $88,000 after buying an additional 1,771 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with cancer. The company uses small-molecule drug discovery and development to pursue treatments designed to address validated cancer targets and improve patient outcomes.

Enliven’s pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for the treatment of chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for use in patients with HER2-positive solid tumors.