Short Interest in Enliven Therapeutics, Inc. (NASDAQ:ELVN) Increases By 6.1%

Enliven Therapeutics, Inc. (NASDAQ:ELVN) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 6,910,000 shares, an increase of 6.1% from the October 15th total of 6,510,000 shares. Approximately 23.8% of the company’s shares are sold short. Based on an average daily volume of 236,300 shares, the short-interest ratio is presently 29.2 days.

Insider Activity

In related news, CEO Samuel Kintz sold 12,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $22.89, for a total value of $274,680.00. Following the completion of the sale, the chief executive officer now directly owns 1,049,255 shares of the company’s stock, valued at approximately $24,017,446.95. This represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Benjamin Hohl sold 4,250 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $22.54, for a total value of $95,795.00. The disclosure for this sale can be found here. Insiders sold a total of 152,195 shares of company stock valued at $4,091,454 over the last three months. Insiders own 29.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in shares of Enliven Therapeutics by 74.8% during the 1st quarter. Janus Henderson Group PLC now owns 713,911 shares of the company’s stock valued at $12,604,000 after acquiring an additional 305,397 shares during the last quarter. First Turn Management LLC grew its holdings 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 buying an additional 121,849 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Enliven Therapeutics by 49.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 114,109 shares of the company’s stock valued at $2,667,000 after buying an additional 37,632 shares during the last quarter. American Century Companies Inc. grew its holdings in Enliven Therapeutics by 44.7% in the 2nd quarter. American Century Companies Inc. now owns 27,651 shares of the company’s stock valued at $646,000 after buying an additional 8,540 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Enliven Therapeutics in the 2nd quarter valued at approximately $322,000. Institutional investors and hedge funds own 95.08% of the company’s stock.

Enliven Therapeutics Stock Performance

Shares of NASDAQ ELVN traded up $0.47 during mid-day trading on Tuesday, reaching $25.37. 120,277 shares of the company traded hands, compared to its average volume of 259,536. The stock has a market cap of $1.24 billion, a PE ratio of -13.16 and a beta of 1.08. The company’s fifty day moving average is $26.32 and its two-hundred day moving average is $24.05. Enliven Therapeutics has a fifty-two week low of $9.80 and a fifty-two week high of $30.03.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ELVN shares. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of Enliven Therapeutics in a research report on Tuesday, October 1st. Robert W. Baird upped their target price on Enliven Therapeutics from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday.

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.