Enliven Therapeutics (NASDAQ:ELVN) Sees Strong Trading Volume - Still a Buy?

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 346,797 shares changed hands during trading, an increase of 69% from the previous session's volume of 205,665 shares.The stock last traded at $20.84 and had previously closed at $22.07.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELVN. Robert W. Baird upped their target price on Enliven Therapeutics from $32.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, November 15th. BTIG Research assumed coverage on shares of Enliven Therapeutics in a research note on Friday, December 13th. They issued a "buy" rating and a $42.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and set a $37.00 target price on shares of Enliven Therapeutics in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $38.25.

Enliven Therapeutics Price Performance

The firm has a market cap of $999.66 million, a price-to-earnings ratio of -10.77 and a beta of 1.04. The business's 50-day moving average price is $24.28 and its two-hundred day moving average price is $24.40.

Insider Transactions at Enliven Therapeutics

In other news, CFO Benjamin Hohl sold 6,250 shares of Enliven Therapeutics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $28.56, for a total value of $178,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Anish Patel sold 21,700 shares of Enliven Therapeutics stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $24.18, for a total transaction of $524,706.00. The disclosure for this sale can be found here. Insiders have sold 42,568 shares of company stock worth $1,076,920 over the last quarter. 29.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enliven Therapeutics

A number of large investors have recently modified their holdings of ELVN. FMR LLC lifted its stake in shares of Enliven Therapeutics by 10.6% in the third quarter. FMR LLC now owns 6,296,179 shares of the company's stock worth $160,804,000 after acquiring an additional 601,611 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Enliven Therapeutics by 43.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company's stock valued at $26,611,000 after purchasing an additional 313,019 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Enliven Therapeutics by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 750,208 shares of the company's stock valued at $19,164,000 after buying an additional 67,813 shares during the last quarter. State Street Corp grew its position in shares of Enliven Therapeutics by 2.9% during the third quarter. State Street Corp now owns 745,944 shares of the company's stock worth $19,051,000 after buying an additional 21,018 shares in the last quarter. Finally, First Turn Management LLC increased its stake in shares of Enliven Therapeutics by 29.5% in the third quarter. First Turn Management LLC now owns 535,092 shares of the company's stock worth $13,666,000 after buying an additional 121,849 shares during the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

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.