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

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) saw an uptick in trading volume on Tuesday . 346,797 shares changed hands during trading, an increase of 69% from the previous session’s volume of 205,665 shares.The stock last traded at $20.84 and had previously closed at $22.07.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ELVN. Robert W. Baird upped their price objective on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. BTIG Research initiated coverage on shares of Enliven Therapeutics in a research note on Friday, December 13th. They set a “buy” rating and a $42.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $38.25.

Enliven Therapeutics Stock Performance

The company has a market cap of $1.00 billion, a price-to-earnings ratio of -10.78 and a beta of 1.04. The business’s 50 day moving average price is $24.43 and its 200-day moving average price is $24.42.

Insider Activity

In other news, CEO Samuel Kintz sold 924 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.00, for a total value of $27,720.00. Following the completion of the transaction, the chief executive officer now owns 1,002,892 shares in the company, valued at approximately $30,086,760. This represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph P. Lyssikatos sold 847 shares of Enliven Therapeutics stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $30.00, for a total transaction of $25,410.00. Following the transaction, the insider now directly owns 1,015,188 shares of the company’s stock, valued at $30,455,640. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,568 shares of company stock worth $1,076,920. 29.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enliven Therapeutics

Large investors have recently bought and sold shares of the business. FMR LLC raised its position in Enliven Therapeutics by 10.6% in the 3rd quarter. FMR LLC now owns 6,296,179 shares of the company’s stock valued at $160,804,000 after purchasing an additional 601,611 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Enliven Therapeutics by 43.0% in the third quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company’s stock valued at $26,611,000 after buying an additional 313,019 shares during the last quarter. Geode Capital Management LLC lifted its position in Enliven Therapeutics by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 750,208 shares of the company’s stock worth $19,164,000 after buying an additional 67,813 shares in the last quarter. State Street Corp grew its holdings in Enliven Therapeutics by 2.9% during the 3rd quarter. State Street Corp now owns 745,944 shares of the company’s stock worth $19,051,000 after acquiring an additional 21,018 shares during the last quarter. Finally, First Turn Management LLC increased its position in Enliven Therapeutics by 29.5% in the 3rd quarter. First Turn Management LLC now owns 535,092 shares of the company’s stock valued at $13,666,000 after acquiring an additional 121,849 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.