Enliven Therapeutics (NASDAQ:ELVN) Shares Up 11.3% - Here's Why

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) shares shot up 11.3% on Wednesday . The stock traded as high as $23.08 and last traded at $22.78. 89,742 shares were traded during trading, a decline of 61% from the average session volume of 228,633 shares. The stock had previously closed at $20.46.

Analyst Upgrades and Downgrades

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

Enliven Therapeutics Price Performance

The firm has a market cap of $1.11 billion, a PE ratio of -11.93 and a beta of 1.04. The business has a fifty day moving average price of $24.14 and a two-hundred day moving average price of $24.39.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, CFO Benjamin Hohl sold 6,250 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.56, for a total value of $178,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samuel Kintz sold 924 shares of Enliven Therapeutics stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.00, for a total transaction of $27,720.00. Following the sale, the chief executive officer now directly owns 1,002,892 shares of the company's stock, valued at $30,086,760. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,568 shares of company stock valued at $1,076,920 in the last 90 days. 29.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Enliven Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ELVN. Quest Partners LLC grew 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 purchasing an additional 742 shares in the last quarter. China Universal Asset Management Co. Ltd. grew 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 buying an additional 3,559 shares in the last quarter. SG Americas Securities LLC acquired a new position in Enliven Therapeutics in the third quarter worth approximately $256,000. Verition Fund Management LLC bought a new position in Enliven Therapeutics during the third quarter valued at approximately $271,000. Finally, The Manufacturers Life Insurance Company bought a new position in Enliven Therapeutics during the second quarter valued at approximately $322,000. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

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.