Connor Clark & Lunn Investment Management Ltd. Buys New Position in Enliven Therapeutics, Inc. $ELVN

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) during the second quarter, Holdings Channel reports. The firm purchased 160,879 shares of the company’s stock, valued at approximately $8,165,000.

Other institutional investors also recently added to or reduced their stakes in the company. Commodore Capital LP lifted its stake in Enliven Therapeutics by 0.4% in the second quarter. Commodore Capital LP now owns 4,692,809 shares of the company’s stock valued at $94,138,000 after buying an additional 17,809 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Enliven Therapeutics during the second quarter worth approximately $221,255,000. Vestal Point Capital LP increased its holdings in shares of Enliven Therapeutics by 230.2% in the 4th quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company’s stock valued at $58,982,000 after acquiring an additional 2,670,000 shares during the period. Polar Capital Holdings Plc increased its holdings in shares of Enliven Therapeutics by 13.5% in the 4th quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company’s stock valued at $54,111,000 after acquiring an additional 418,673 shares during the period. Finally, Vanguard Group Inc. raised its position in Enliven Therapeutics by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,553,014 shares of the company’s stock valued at $52,260,000 after purchasing an additional 142,378 shares during the last quarter. Institutional investors and hedge funds own 95.08% of the company’s stock.

Insider Activity at Enliven Therapeutics

In other Enliven Therapeutics news, Director Mika K. 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 approximately $5,260,728.33. The trade was a 64.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 business’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 transaction, the chief financial officer owned 40,036 shares in the company, valued at $2,345,308.88. The trade was a 13.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 196,849 shares of company stock worth $11,344,257 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JonesTrading raised their price objective on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Mizuho upped their target price on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Friday, July 17th. The Goldman Sachs Group increased their target price on shares of Enliven Therapeutics from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, William Blair began coverage on Enliven Therapeutics in a research report on Tuesday, August 18th. They issued an “outperform” rating on the stock. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Enliven Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Enliven Therapeutics Price Performance

NASDAQ:ELVN opened at $60.87 on Thursday. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of -36.45 and a beta of 0.27. The firm’s fifty day moving average price is $54.05 and its 200 day moving average price is $42.77. Enliven Therapeutics, Inc. has a 1-year low of $14.78 and a 1-year high of $62.32.

Enliven Therapeutics (NASDAQ:ELVN) last released its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.10). As a group, analysts expect that Enliven Therapeutics, Inc. will post -1.69 earnings per share for the current fiscal 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.