Jennison Associates LLC Takes Position in Enliven Therapeutics, Inc. $ELVN

Jennison Associates LLC acquired a new position in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 309,180 shares of the company’s stock, valued at approximately $12,120,000.

Other institutional investors have also recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new stake in Enliven Therapeutics during the 3rd quarter valued at $334,000. Candriam S.C.A. raised its holdings in shares of Enliven Therapeutics by 31.1% in the first quarter. Candriam S.C.A. now owns 594,079 shares of the company’s stock worth $23,288,000 after acquiring an additional 141,060 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new position in shares of Enliven Therapeutics in the first quarter worth $14,480,000. Seven Fleet Capital Management LP acquired a new position in shares of Enliven Therapeutics in the fourth quarter worth $180,000. Finally, Spruce Street Capital LP purchased a new stake in shares of Enliven Therapeutics in the fourth quarter valued at $6,870,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the firm’s 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 sale, the director directly owned 51,884 shares of the company’s stock, valued at approximately $1,792,073.36. This trade represents a 16.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 dated Wednesday, June 17th. The shares were sold at an average price of $43.80, for a total value of $263,588.40. Following the completion of the sale, the chief financial officer owned 51,000 shares of the company’s stock, valued at $2,233,800. This trade represents a 10.55% 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. Insiders have sold 26,018 shares of company stock worth $1,113,888 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ELVN shares. Guggenheim began coverage on Enliven Therapeutics in a research note on Tuesday, May 12th. They set a “buy” rating and a $80.00 price objective on the stock. Mizuho boosted their target price on shares of Enliven Therapeutics from $45.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Stifel Nicolaus upped their target price on shares of Enliven Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Wall Street Zen raised shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group raised their price target on shares of Enliven Therapeutics from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enliven Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Enliven Therapeutics Stock Up 5.1%

Shares of Enliven Therapeutics stock opened at $54.33 on Wednesday. Enliven Therapeutics, Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $54.88. The firm has a market cap of $3.31 billion, a PE ratio of -32.53 and a beta of 0.24. The business’s fifty day moving average is $44.88 and its two-hundred day moving average is $36.64.

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

Enliven Therapeutics Company 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.