Enliven Therapeutics (NASDAQ:ELVN) Sees Unusually-High Trading Volume - Here's Why
Enliven Therapeutics (NASDAQ:ELVN) experienced a significant increase in trading volume, with 353,339 shares traded, up 39% from the previous session. Analysts have issued positive ratings, with BTIG Research setting a "buy" rating and a $42 price target. The stock has a market cap of $1.07 billion and a consensus rating of "Buy" with an average target price of $38.25. Recent insider selling and institutional investments indicate strong interest in the company, which focuses on developing small molecule inhibitors for cancer treatment.
Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) shares saw an uptick in trading volume on Friday . 353,339 shares were traded during mid-day trading, an increase of 39% from the previous session's volume of 254,297 shares.The stock last traded at $21.99 and had previously closed at $22.04.
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Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. BTIG Research began coverage on shares of Enliven Therapeutics in a report on Friday, December 13th. They set a "buy" rating and a $42.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $37.00 price target on shares of Enliven Therapeutics in a report on Tuesday, October 1st. Finally, Robert W. Baird boosted their price objective on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, November 15th. 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, the stock currently has a consensus rating of "Buy" and an average target price of $38.25.
Check Out Our Latest Stock Analysis on ELVN
Enliven Therapeutics Stock Performance
The stock has a market cap of $1.07 billion, a PE ratio of -11.61 and a beta of 1.04. The stock's 50-day moving average is $23.55 and its two-hundred day moving average is $24.38.
Insider Buying and Selling
In related news, COO Anish Patel sold 21,700 shares of Enliven Therapeutics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $24.18, for a total value of $524,706.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Benjamin Hohl sold 6,250 shares of Enliven Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.56, for a total transaction of $178,500.00. The disclosure for this sale can be found here. Insiders sold 38,450 shares of company stock worth $953,380 over the last 90 days. 29.20% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of ELVN. China Universal Asset Management Co. Ltd. boosted its stake in Enliven Therapeutics by 14.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,360 shares of the company's stock valued at $233,000 after acquiring an additional 1,275 shares during the last quarter. SG Americas Securities LLC boosted its stake in Enliven Therapeutics by 66.1% in the fourth quarter. SG Americas Securities LLC now owns 16,629 shares of the company's stock valued at $374,000 after acquiring an additional 6,616 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Enliven Therapeutics in the third quarter worth $8,199,000. Franklin Resources Inc. bought a new stake in Enliven Therapeutics in the 3rd quarter valued at about $559,000. Finally, Barclays PLC increased its position in Enliven Therapeutics by 295.8% in the 3rd quarter. Barclays PLC now owns 56,217 shares of the company's stock valued at $1,435,000 after acquiring an additional 42,012 shares during the period. Institutional investors and hedge funds own 95.08% of the company's stock.
About Enliven Therapeutics
(Get Free Report)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.
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