Enliven Therapeutics (NASDAQ:ELVN) Share Price Breaks Above 50 Day Moving Average – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $47.25 and traded as high as $49.66. Enliven Therapeutics shares last traded at $49.43, with a volume of 969,641 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on ELVN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a research report on Thursday, October 15th. Stifel Nicolaus lifted their price target on Enliven Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. began coverage on Enliven Therapeutics in a report on Thursday, October 1st. They set an “overweight” rating and a $75.00 target price on the stock. Wall Street Zen upgraded Enliven Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Mizuho lifted their target price on Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Ten research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Enliven Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.44.

Enliven Therapeutics Trading Up 10.4%

The firm has a market capitalization of $3.62 billion, a PE ratio of -28.91 and a beta of 0.34. The firm has a 50 day simple moving average of $47.25 and a 200 day simple moving average of $43.08.

Enliven Therapeutics (NASDAQ:ELVN) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. Research analysts forecast that Enliven Therapeutics, Inc. will post -1.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director J. Scott Garland sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $46.67, for a total transaction of $606,710.00. Following the transaction, the director owned 13,000 shares in the company, valued at $606,710. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Benjamin Hohl sold 6,018 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $38.48, for a total value of $231,572.64. Following the transaction, the chief financial officer owned 38,000 shares of the company’s stock, valued at $1,462,240. This represents a 13.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 31,054 shares of company stock worth $1,493,823. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enliven Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Enliven Therapeutics by 70.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 681,715 shares of the company’s stock worth $26,714,000 after purchasing an additional 282,822 shares during the last quarter. Legal & General Group Plc purchased a new stake in Enliven Therapeutics in the 2nd quarter worth approximately $1,671,000. Nicholas Investment Partners LP purchased a new position in shares of Enliven Therapeutics during the 2nd quarter worth $19,870,000. Avidity Partners Management LP grew its position in shares of Enliven Therapeutics by 185.1% in the 1st quarter. Avidity Partners Management LP now owns 400,000 shares of the company’s stock valued at $15,680,000 after buying an additional 259,700 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Enliven Therapeutics during the second quarter valued at $878,000. 95.08% of the stock is owned by institutional investors and hedge funds.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with cancer. The company uses small-molecule drug discovery and development to pursue treatments designed to address validated cancer targets and improve patient outcomes.

Enliven’s pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for the treatment of chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for use in patients with HER2-positive solid tumors.