Spruce Street Capital LP Invests $6.87 Million in Enliven Therapeutics, Inc. $ELVN

Spruce Street Capital LP bought a new position in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 446,084 shares of the company’s stock, valued at approximately $6,870,000. Enliven Therapeutics comprises approximately 2.3% of Spruce Street Capital LP’s portfolio, making the stock its 15th biggest position. Spruce Street Capital LP owned approximately 0.75% of Enliven Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Enliven Therapeutics by 8.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,729 shares of the company’s stock worth $428,000 after acquiring an additional 1,693 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Enliven Therapeutics by 61.3% during the first quarter. Goldman Sachs Group Inc. now owns 211,752 shares of the company’s stock worth $4,167,000 after acquiring an additional 80,506 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Enliven Therapeutics during the first quarter worth $578,000. Legal & General Group Plc raised its position in shares of Enliven Therapeutics by 52.2% during the second quarter. Legal & General Group Plc now owns 32,225 shares of the company’s stock worth $646,000 after acquiring an additional 11,058 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Enliven Therapeutics by 47.1% in the second quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock valued at $90,000 after purchasing an additional 1,434 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

Insider Activity

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $34.54, for a total value of $345,400.00. Following the completion of the sale, the director directly owned 51,884 shares in the company, valued at $1,792,073.36. This represents a 16.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Guggenheim assumed coverage on Enliven Therapeutics in a report on Tuesday, May 12th. They issued a “buy” rating and a $80.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Monday, April 20th. The Goldman Sachs Group upped their price objective on Enliven Therapeutics from $41.00 to $59.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wall Street Zen upgraded Enliven Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Stifel Nicolaus assumed coverage on Enliven Therapeutics in a report on Tuesday, June 9th. They issued a “buy” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Enliven Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $63.40.

Enliven Therapeutics Trading Down 8.2%

NASDAQ ELVN opened at $42.36 on Tuesday. The stock has a 50-day simple moving average of $41.54 and a 200 day simple moving average of $30.93. The company has a market capitalization of $2.58 billion, a PE ratio of -25.37 and a beta of 0.29. Enliven Therapeutics, Inc. has a 12 month low of $14.78 and a 12 month high of $48.53.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. As a group, sell-side analysts predict that Enliven Therapeutics, Inc. will post -1.71 earnings per share for the current fiscal year.

Enliven Therapeutics Profile

Enliven Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapies that harness induced proximity mechanisms to selectively target and degrade disease-causing proteins in cancer. Leveraging its proprietary Induced Proximity platform, the company designs molecular glues and related modalities to recruit endogenous cellular machinery for targeted protein degradation, with the goal of treating malignancies driven by so-called “undruggable” oncogenic factors.

The company’s pipeline comprises several early-stage programs directed at key oncogenic drivers across hematologic and solid tumor indications.