HC Wainwright Forecasts Strong Price Appreciation for Enliven Therapeutics (NASDAQ:ELVN) Stock

Enliven Therapeutics (NASDAQ:ELVN) had its target price increased by equities researchers at HC Wainwright from $37.00 to $39.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 85.01% from the company’s previous close.

Separately, BTIG Research initiated coverage on Enliven Therapeutics in a research note on Friday, December 13th. They set a “buy” rating and a $42.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $38.75.

Enliven Therapeutics Stock Performance

Enliven Therapeutics stock opened at $21.08 on Friday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -11.09 and a beta of 1.04. Enliven Therapeutics has a fifty-two week low of $15.96 and a fifty-two week high of $30.03. The stock’s fifty day moving average is $21.31 and its two-hundred day moving average is $23.77.

Enliven Therapeutics (NASDAQ:ELVN) last posted its 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 during the quarter. As a group, sell-side analysts forecast that Enliven Therapeutics will post -1.95 EPS for the current fiscal year.

Insider Activity at Enliven Therapeutics

In related news, COO Anish Patel sold 21,700 shares of the stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink. Also, insider Joseph P. Lyssikatos sold 12,500 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $20.61, for a total value of $257,625.00. Following the transaction, the insider now owns 1,002,688 shares in the company, valued at $20,665,399.68. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,784 shares of company stock valued at $1,610,375 over the last quarter. Insiders own 29.20% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Enliven Therapeutics by 3.5% during the fourth quarter. Invesco Ltd. now owns 15,072 shares of the company’s stock worth $339,000 after buying an additional 508 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Enliven Therapeutics by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,036 shares of the company’s stock worth $451,000 after buying an additional 718 shares during the period. Tower Research Capital LLC TRC lifted its position in Enliven Therapeutics by 230.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,598 shares of the company’s stock worth $36,000 after buying an additional 1,114 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Enliven Therapeutics by 14.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,360 shares of the company’s stock worth $233,000 after buying an additional 1,275 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Enliven Therapeutics by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 21,746 shares of the company’s stock worth $489,000 after buying an additional 1,285 shares during the period. 95.08% of the stock is currently owned by hedge funds and other 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.