Enliven Therapeutics (NASDAQ:ELVN) Stock Price Up 11.3% – What’s Next?

Enliven Therapeutics, Inc. (NASDAQ:ELVN) rose 11.3% on Wednesday . The company traded as high as $23.08 and last traded at $22.78. Approximately 89,742 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 228,633 shares. The stock had previously closed at $20.46.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of Enliven Therapeutics in a research note on Tuesday, October 1st. Robert W. Baird lifted their price objective on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, BTIG Research initiated coverage on Enliven Therapeutics in a report on Friday, December 13th. They set a “buy” rating and a $42.00 target price on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $38.25.

Enliven Therapeutics Stock Performance

The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -11.57 and a beta of 1.04. The firm has a fifty day simple moving average of $24.00 and a 200-day simple moving average of $24.37.

Insider Buying and Selling

In other Enliven Therapeutics news, CFO Benjamin Hohl sold 5,250 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $24.89, for a total transaction of $130,672.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Anish Patel sold 21,700 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $24.18, for a total value of $524,706.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,450 shares of company stock valued at $953,380. Insiders own 29.20% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC increased its stake in Enliven Therapeutics by 87.3% in the second quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock valued at $37,000 after acquiring an additional 742 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Enliven Therapeutics by 12.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,168 shares of the company’s stock valued at $668,000 after purchasing an additional 2,944 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Enliven Therapeutics by 25.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,282 shares of the company’s stock valued at $441,000 after purchasing an additional 3,518 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Enliven Therapeutics by 64.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock valued at $232,000 after purchasing an additional 3,559 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Enliven Therapeutics by 44.7% during the 2nd quarter. American Century Companies Inc. now owns 27,651 shares of the company’s stock worth $646,000 after buying an additional 8,540 shares during the last quarter. 95.08% of the stock is currently owned by institutional investors and hedge funds.

About Enliven Therapeutics

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial in adults with solid tumors with HER2 alterations.