Enliven Therapeutics (NASDAQ:ELVN) Sees Strong Trading Volume - Here's What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 636,943 shares traded hands during mid-day trading, an increase of 130% from the previous session's volume of 277,509 shares.The stock last traded at $19.57 and had previously closed at $18.88.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. HC Wainwright boosted their target price on Enliven Therapeutics from $37.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, March 21st. BTIG Research started coverage on shares of Enliven Therapeutics in a report on Friday, December 13th. They issued a "buy" rating and a $42.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $38.75.

Enliven Therapeutics Trading Down 4.4 %

The stock has a market cap of $875.70 million, a PE ratio of -9.41 and a beta of 1.03. The business has a fifty day simple moving average of $21.03 and a two-hundred day simple moving average of $23.65.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.07. The firm had revenue of $0.03 million for the quarter. On average, research analysts predict that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

Insider Transactions at Enliven Therapeutics

In related news, COO Anish Patel sold 21,700 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $24.18, for a total transaction of $524,706.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Benjamin Hohl sold 3,250 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $21.33, for a total transaction of $69,322.50. Following the transaction, the chief financial officer now directly owns 23,000 shares of the company's stock, valued at $490,590. The trade was a 12.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,784 shares of company stock valued at $1,582,696 in the last three months. 29.20% of the stock is currently owned by company insiders.

Institutional Trading of Enliven Therapeutics

Several large investors have recently modified their holdings of the company. Invesco Ltd. increased its holdings in Enliven Therapeutics by 3.5% during the fourth quarter. Invesco Ltd. now owns 15,072 shares of the company's stock valued at $339,000 after buying an additional 508 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enliven Therapeutics by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,036 shares of the company's stock worth $451,000 after buying an additional 718 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Enliven Therapeutics by 230.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,598 shares of the company's stock valued at $36,000 after purchasing an additional 1,114 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Enliven Therapeutics by 14.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,360 shares of the company's stock worth $233,000 after acquiring an additional 1,275 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in Enliven Therapeutics by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 21,746 shares of the company's stock valued at $489,000 after purchasing an additional 1,285 shares in the last quarter. Institutional investors own 95.08% of the company's stock.

Enliven Therapeutics Company Profile

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.