Shares of Enliven Therapeutics, Inc. (NASDAQ: ELVN) experienced a decline of 6.1% during trading on Tuesday, reaching a low of $16.65 before closing at $16.84. Approximately 448,966 shares changed hands, slightly below the average volume of 454,036 shares. This downturn follows a previous closing price of $17.93.
Analysts have recently adjusted their ratings on the stock. On November 15, Wall Street Zen upgraded Enliven Therapeutics from a “sell” to a “hold” rating. Conversely, Weiss Ratings reaffirmed a “sell (d-)” rating on October 8. Currently, four analysts recommend buying the stock, while one advises selling. According to data from MarketBeat, Enliven Therapeutics holds a consensus rating of “Moderate Buy” with a price target set at $41.00.
Recent Earnings and Insider Activity
On November 13, Enliven Therapeutics released its latest earnings report, revealing an earnings per share (EPS) of ($0.32) for the quarter. This figure surpassed analysts’ expectations, which had forecast an EPS of ($0.43), marking a positive deviation of $0.11. Analysts predict that the company will report an EPS of ($1.95) for the current fiscal year.
In recent insider trading activities, Benjamin Hohl, the Chief Financial Officer, sold 3,250 shares on September 29 for an average price of $20.40, totaling $66,300. Following this transaction, Hohl retained 23,000 shares valued at approximately $469,200, reflecting a 12.38% reduction in his ownership. Similarly, Anish Patel, the Chief Operating Officer, sold 6,667 shares on October 7 at an average price of $20.10, leading to a total sale of $134,006.70. After this sale, Patel owned 276,641 shares worth approximately $5,560,484.10, which is a 2.35% decrease in his position. In total, insiders sold 80,947 shares valued at $1,706,091 over the past three months, with corporate insiders holding 25.90% of the stock.
Institutional Investments Surge
A number of institutional investors and hedge funds have recently adjusted their stakes in Enliven Therapeutics. Goldman Sachs Group Inc. increased its holdings by 61.3% in the first quarter, now owning 211,752 shares valued at $4,167,000 after acquiring an additional 80,506 shares. Affinity Asset Advisors LLC has initiated a new stake in the company worth approximately $8,024,000 during the second quarter.
Furthermore, Wellington Management Group LLP raised its position by 4.7%, now holding 84,700 shares valued at $1,667,000 after purchasing an additional 3,784 shares. Ally Bridge Group NY LLC also increased its stake by 19.8% in the first quarter, owning 169,774 shares worth $3,341,000 after an additional purchase of 28,064 shares. Russell Investments Group Ltd. significantly boosted its stake by 148,550.7%, now holding 105,542 shares valued at $2,077,000 following the acquisition of 105,471 shares. Currently, institutional investors and hedge funds own 95.08% of Enliven Therapeutics’ stock.
Enliven Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapies that target disease-causing proteins in cancer. The company utilizes its proprietary Induced Proximity platform to create molecular glues aimed at treating malignancies associated with “undruggable” oncogenic factors. Its pipeline includes several early-stage programs targeting key oncogenic drivers in both hematologic and solid tumor indications.
