Enliven Therapeutics (NASDAQ:ELVN) Announces Earnings Results

Enliven Therapeutics (NASDAQ:ELVN) posted its earnings results on Thursday. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06, FiscalAI reports.

Enliven Therapeutics Trading Up 1.1%

Shares of ELVN traded up $0.46 during midday trading on Friday, hitting $40.75. 606,389 shares of the company’s stock traded hands, compared to its average volume of 742,574. Enliven Therapeutics has a 1 year low of $14.78 and a 1 year high of $48.53. The firm’s fifty day moving average is $37.05 and its 200-day moving average is $27.33. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -24.40 and a beta of 0.32.

Insiders Place Their Bets

In related news, CFO Benjamin Hohl sold 10,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $29.58, for a total value of $295,800.00. Following the completion of the transaction, the chief financial officer owned 51,000 shares in the company, valued at $1,508,580. This trade represents a 16.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard A. Heyman sold 1,230 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $26.18, for a total value of $32,201.40. Following the completion of the transaction, the director owned 22,647 shares of the company’s stock, valued at $592,898.46. This trade represents a 5.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enliven Therapeutics by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,729 shares of the company’s stock worth $428,000 after acquiring an additional 1,693 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Enliven Therapeutics by 61.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,752 shares of the company’s stock worth $4,167,000 after acquiring an additional 80,506 shares during the last quarter. Jane Street Group LLC purchased a new position in Enliven Therapeutics in the 1st quarter worth $578,000. Legal & General Group Plc raised its stake in Enliven Therapeutics by 52.2% in the 2nd quarter. Legal & General Group Plc now owns 32,225 shares of the company’s stock worth $646,000 after acquiring an additional 11,058 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in Enliven Therapeutics by 47.1% in the 2nd quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock worth $90,000 after acquiring an additional 1,434 shares during the last quarter. Hedge funds and other institutional investors own 95.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ELVN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Monday, April 20th. Mizuho increased their price objective on Enliven Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Wall Street Zen lowered Enliven Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. The Goldman Sachs Group increased their price objective on Enliven Therapeutics from $41.00 to $59.00 and gave the company a “buy” rating in a report on Friday. Finally, HC Wainwright increased their price objective on Enliven Therapeutics from $48.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.80.

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.