First Light Asset Management LLC Increases Holdings in Enliven Therapeutics, Inc. $ELVN

First Light Asset Management LLC boosted its stake in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) by 574.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,360,750 shares of the company’s stock after purchasing an additional 1,158,883 shares during the period. Enliven Therapeutics comprises about 4.2% of First Light Asset Management LLC’s investment portfolio, making the stock its 7th biggest position. First Light Asset Management LLC’s holdings in Enliven Therapeutics were worth $69,058,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. KBC Group NV bought a new position in shares of Enliven Therapeutics in the first quarter worth about $38,000. BNP Paribas Financial Markets lifted its position in shares of Enliven Therapeutics by 33.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after buying an additional 930 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Enliven Therapeutics during the 4th quarter valued at approximately $83,000. Quantbot Technologies LP grew its stake in shares of Enliven Therapeutics by 47.1% during the 2nd quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock valued at $90,000 after acquiring an additional 1,434 shares during the period. Finally, State of Wyoming purchased a new stake in Enliven Therapeutics in the 2nd quarter worth approximately $96,000. Institutional investors own 95.08% of the company’s stock.

Insiders Place Their Bets

In other Enliven Therapeutics news, Director Mika Derynck sold 158,795 shares of Enliven Therapeutics stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $60.21, for a total value of $9,561,046.95. Following the sale, the director owned 87,373 shares of the company’s stock, valued at $5,260,728.33. The trade was a 64.51% decrease in their position. The transaction was disclosed in a legal filing 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 the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $58.58, for a total value of $352,534.44. Following the sale, the chief financial officer directly owned 40,036 shares in the company, valued at $2,345,308.88. This trade represents a 13.07% 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. Insiders have sold a total of 186,849 shares of company stock valued at $10,998,857 in the last quarter. 3.00% of the stock is currently owned by insiders.

Enliven Therapeutics Stock Performance

ELVN opened at $57.45 on Thursday. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -34.40 and a beta of 0.30. The company has a fifty day moving average of $56.18 and a 200 day moving average of $45.00. Enliven Therapeutics, Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $62.32.

Enliven Therapeutics (NASDAQ:ELVN) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.10). On average, equities research analysts forecast that Enliven Therapeutics, Inc. will post -1.69 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on ELVN shares. JonesTrading lifted their price target on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the company a “buy” rating in a report on Monday, June 29th. Stifel Nicolaus increased their price objective on shares of Enliven Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Guggenheim lowered their target price on shares of Enliven Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Enliven Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.00.

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.