Enliven Therapeutics (NASDAQ:ELVN) Sees Unusually-High Trading Volume – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) saw strong trading volume on Wednesday . 636,943 shares traded hands during mid-day trading, an increase of 130% from the previous session’s volume of 277,509 shares.The stock last traded at $19.57 and had previously closed at $18.88.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ELVN shares. BTIG Research assumed coverage on Enliven Therapeutics in a research note on Friday, December 13th. They issued a “buy” rating and a $42.00 price target on the stock. HC Wainwright boosted their price target on Enliven Therapeutics from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enliven Therapeutics currently has a consensus rating of “Buy” and an average price target of $38.75.

Enliven Therapeutics Stock Up 5.2 %

The stock has a market cap of $973.22 million, a P/E ratio of -10.45 and a beta of 1.04. The firm has a 50 day moving average price of $21.18 and a 200 day moving average price of $23.70.

Enliven Therapeutics (NASDAQ:ELVN) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.07. The firm had revenue of $0.03 million for the quarter. Equities analysts predict that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Anish Patel sold 21,700 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $24.18, for a total transaction of $524,706.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Benjamin Hohl sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $21.33, for a total value of $69,322.50. Following the completion of the transaction, the chief financial officer now directly owns 23,000 shares in the company, valued at approximately $490,590. This represents a 12.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,784 shares of company stock worth $1,607,736. Corporate insiders own 29.20% of the company’s stock.

Institutional Trading of Enliven Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Enliven Therapeutics by 3.2% in the fourth quarter. FMR LLC now owns 6,495,871 shares of the company’s stock worth $146,157,000 after purchasing an additional 199,692 shares during the last quarter. Polar Capital Holdings Plc increased its stake in Enliven Therapeutics by 267.6% in the 4th quarter. Polar Capital Holdings Plc now owns 2,389,668 shares of the company’s stock worth $53,768,000 after acquiring an additional 1,739,668 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Enliven Therapeutics by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 1,975,655 shares of the company’s stock worth $44,452,000 after acquiring an additional 55,283 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Enliven Therapeutics by 27.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,331,877 shares of the company’s stock valued at $30,001,000 after acquiring an additional 290,153 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Enliven Therapeutics by 16.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 972,293 shares of the company’s stock valued at $21,877,000 after purchasing an additional 135,969 shares in the last quarter. 95.08% of the stock is currently owned by institutional investors.

About Enliven Therapeutics

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial in adults with solid tumors with HER2 alterations.