68,706 Shares in Enliven Therapeutics, Inc. $ELVN Bought by SummitTX Capital L.P.

SummitTX Capital L.P. acquired a new position in Enliven Therapeutics, Inc. (NASDAQ:ELVN) during the 1st quarter, Holdings Channel reports. The fund acquired 68,706 shares of the company’s stock, valued at approximately $2,693,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Affinity Asset Advisors LLC purchased a new stake in shares of Enliven Therapeutics in the first quarter valued at about $23,007,000. Entropy Technologies LP purchased a new stake in Enliven Therapeutics in the 1st quarter valued at approximately $239,000. Siren L.L.C. acquired a new stake in Enliven Therapeutics during the 1st quarter valued at $29,252,000. Walleye Capital LLC purchased a new position in Enliven Therapeutics during the first quarter worth $1,483,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Enliven Therapeutics by 70.9% in the first quarter. Dimensional Fund Advisors LP now owns 681,715 shares of the company’s stock worth $26,714,000 after acquiring an additional 282,822 shares during the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Enliven Therapeutics Stock Performance

Shares of ELVN stock opened at $53.76 on Wednesday. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -32.19 and a beta of 0.24. Enliven Therapeutics, Inc. has a one year low of $14.78 and a one year high of $55.79. The company has a 50 day moving average price of $46.03 and a 200 day moving average price of $37.96.

Enliven Therapeutics (NASDAQ:ELVN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. As a group, equities analysts forecast that Enliven Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $50.49, for a total transaction of $504,900.00. Following the completion of the sale, the director directly owned 41,884 shares in the company, valued at $2,114,723.16. This represents a 19.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the company’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $52.64, for a total value of $316,787.52. Following the sale, the chief financial officer owned 46,054 shares of the company’s stock, valued at $2,424,282.56. This represents a 11.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,036 shares of company stock worth $1,430,676 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ELVN has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on Enliven Therapeutics from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. HC Wainwright boosted their target price on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. JonesTrading upped their target price on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the company a “buy” rating in a report on Monday, June 29th. Guggenheim initiated coverage on shares of Enliven Therapeutics in a research note on Tuesday, May 12th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of Enliven Therapeutics from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

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.