Enliven Therapeutics (NASDAQ:ELVN) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price crossed 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 trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Enliven Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Guggenheim reaffirmed a “buy” rating and set a $78.00 price objective on shares of Enliven Therapeutics in a report on Friday. William Blair started coverage on Enliven Therapeutics in a report on Tuesday, August 18th. They set an “outperform” rating on the stock. Mizuho upped their price objective on Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Finally, Stifel Nicolaus increased their target price on Enliven Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enliven Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $75.44.

Enliven Therapeutics Trading Up 10.4%

The firm has a market cap of $3.62 billion, a P/E ratio of -28.91 and a beta of 0.34. The company’s fifty day moving average price is $47.25 and its two-hundred day moving average price is $43.08.

Enliven Therapeutics (NASDAQ:ELVN) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.09. On average, analysts predict that Enliven Therapeutics, Inc. will post -1.79 EPS for the current fiscal year.

Insider Activity at Enliven Therapeutics

In other news, CFO Benjamin Hohl sold 6,018 shares of the business’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $38.48, for a total value of $231,572.64. Following the transaction, the chief financial officer directly owned 38,000 shares of the company’s stock, valued at $1,462,240. The trade was a 13.67% decrease in their position. 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. Also, Director J. Scott Garland sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $46.67, for a total value of $606,710.00. Following the completion of the transaction, the director directly owned 13,000 shares in the company, valued at $606,710. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 31,054 shares of company stock valued at $1,493,823. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

Several institutional investors have recently bought and sold shares of ELVN. Russell Investments Group Ltd. grew its stake in shares of Enliven Therapeutics by 3.8% during the third quarter. Russell Investments Group Ltd. now owns 95,440 shares of the company’s stock valued at $4,375,000 after purchasing an additional 3,502 shares during the last quarter. Three Bridge Wealth Advisors LLC bought a new position in Enliven Therapeutics in the 3rd quarter worth approximately $53,000. Pictet Asset Management Holding SA raised its position in Enliven Therapeutics by 14.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,325,740 shares of the company’s stock worth $60,772,000 after purchasing an additional 163,956 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Enliven Therapeutics in the 3rd quarter worth approximately $172,000. Finally, Profund Advisors LLC raised its position in Enliven Therapeutics by 260.8% in the 3rd quarter. Profund Advisors LLC now owns 27,874 shares of the company’s stock worth $1,278,000 after purchasing an additional 20,148 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

About Enliven Therapeutics

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.