Enliven Therapeutics (NASDAQ:ELVN) Hits New 1-Year High – Should You Buy?

Enliven Therapeutics, Inc. (NASDAQ:ELVN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $52.42 and last traded at $52.1040, with a volume of 97765 shares trading hands. The stock had previously closed at $51.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Enliven Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, May 11th. JonesTrading boosted their target price on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 29th. The Goldman Sachs Group boosted their price objective on Enliven Therapeutics from $41.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Monday, April 20th. Finally, Stifel Nicolaus raised their price target on Enliven Therapeutics from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Enliven Therapeutics Trading Up 2.1%

The stock has a 50 day moving average of $43.70 and a 200-day moving average of $35.34. The stock has a market capitalization of $3.22 billion, a P/E ratio of -31.59 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN) last released its earnings results on Thursday, May 7th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. Research analysts anticipate that Enliven Therapeutics, Inc. will post -1.57 EPS for the current year.

Insider Activity at Enliven Therapeutics

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $34.54, for a total transaction of $345,400.00. Following the transaction, the director directly owned 51,884 shares in the company, valued at $1,792,073.36. This trade represents a 16.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of Enliven Therapeutics stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $43.80, for a total value of $263,588.40. Following the sale, the chief financial officer directly owned 51,000 shares of the company’s stock, valued at approximately $2,233,800. This trade represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 26,018 shares of company stock worth $1,113,888. 3.00% of the stock is owned by insiders.

Institutional Trading of Enliven Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ELVN. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Enliven Therapeutics by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company’s stock valued at $44,000 after acquiring an additional 594 shares during the period. Invesco Ltd. grew its stake in Enliven Therapeutics by 4.3% during the 2nd quarter. Invesco Ltd. now owns 21,957 shares of the company’s stock valued at $440,000 after purchasing an additional 913 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Enliven Therapeutics by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after purchasing an additional 930 shares during the period. KBC Group NV purchased a new position in shares of Enliven Therapeutics in the first quarter worth about $38,000. Finally, Swiss National Bank lifted its holdings in shares of Enliven Therapeutics by 1.7% during the fourth quarter. Swiss National Bank now owns 64,273 shares of the company’s stock worth $990,000 after purchasing an additional 1,100 shares during the period. 95.08% of the stock is owned by hedge funds and other institutional investors.

About Enliven Therapeutics

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.