Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) experienced a decline of 6.1% in midday trading on November 15, 2023. The stock reached a low of $16.65 before closing at $16.8450. A total of 448,966 shares changed hands, slightly below the average session volume of 454,036 shares. The previous closing price was $17.93.
Analyst Ratings Impact Stock Performance
Recent changes in analyst ratings have influenced investor sentiment regarding Enliven Therapeutics. On November 15, Wall Street Zen upgraded the stock from a “sell” to a “hold” rating. In contrast, Weiss Ratings reaffirmed a “sell (d-)” rating on October 8. Currently, four analysts have given the stock a Buy rating, while one has issued a Sell rating. According to data from MarketBeat, Enliven Therapeutics holds a consensus rating of “Moderate Buy” with a price target of $41.00.
Earnings Report Shows Positive Surprise
On November 13, Enliven Therapeutics reported its earnings results for the quarter, revealing an earnings per share (EPS) of ($0.32). This figure surpassed analysts’ consensus estimate of ($0.43) by $0.11. Analysts predict that the company will post an EPS of ($1.95) for the current year.
Insider Trading Raises Questions
In related news, Benjamin Hohl, Chief Financial Officer of Enliven Therapeutics, sold 3,250 shares on September 29 at an average price of $20.40, totaling $66,300. Following this transaction, Hohl’s ownership decreased to 23,000 shares, valued at approximately $469,200. Similarly, Anish Patel, Chief Operating Officer, sold 6,667 shares on October 7 at an average price of $20.10, amounting to $134,006.70. Patel now owns 276,641 shares, worth about $5,560,484.10. Over the past three months, insiders have sold 80,947 shares valued at $1,706,091. Currently, insiders hold 25.90% of the company’s stock.
Institutional Investors Show Interest
A number of institutional investors have recently adjusted their stakes in Enliven Therapeutics. Notably, Goldman Sachs Group Inc. increased its stake by 61.3% in the first quarter, owning 211,752 shares valued at $4,167,000 after acquiring an additional 80,506 shares. Affinity Asset Advisors LLC purchased a new stake in the second quarter worth approximately $8,024,000. Other firms, including Wellington Management Group LLP and Russell Investments Group Ltd., also increased their holdings significantly. Currently, institutional investors and hedge funds own 95.08% of the stock.
About Enliven Therapeutics
Enliven Therapeutics is a clinical-stage biotechnology company that focuses on developing small-molecule therapies. The company aims to harness induced proximity mechanisms to selectively target and degrade disease-causing proteins in cancer. Utilizing its proprietary Induced Proximity platform, Enliven designs molecular glues and related modalities to engage cellular machinery for targeted protein degradation. The company’s portfolio includes several early-stage programs aimed at key oncogenic drivers across various tumor indications.
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