Enliven Therapeutics (ELVN)


Market Price (10/1/2026): $46.23 | Market Cap: $3.1 BilSector: Health Care | Industry: Biotechnology

Enliven Therapeutics (ELVN)


Market Price (10/1/2026): $46.23
Market Cap: $3.1 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -124 Mil

Stock price has recently run up significantly
12M Rtn12 month market price return is 124%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.3%

Key risks
ELVN key risks include [1] intense competition for its lead product candidate, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
2 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -124 Mil
5 Stock price has recently run up significantly
12M Rtn12 month market price return is 124%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.3%
7 Key risks
ELVN key risks include [1] intense competition for its lead product candidate, Show more.

ELVN in ETFs

Weight = ELVN's share of each fund

VTI0.00%
VTI0.00%
ITOT0.00%
IWM0.09%
IBB0.19%
IWO0.17%
NUSC0.12%
VTWO0.08%
+8 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/30/2026

Enliven Therapeutics (ELVN) stock has lost about 10% since 6/30/2026 because of the following key factors:

1. Fiscal Q2 2026 Earnings Miss and Increased Losses.

Enliven Therapeutics reported its fiscal Q2 2026 financial results on August 5, 2026, revealing a net loss of $32.5 million, an increase from the $25.3 million net loss in fiscal Q2 2025. The company's Earnings Per Share (EPS) of -$0.49 for the quarter missed analysts' consensus estimates of -$0.39 by $0.10. Additionally, research and development expenses rose to $29.0 million in fiscal Q2 2026, up from $21.5 million in the prior year's comparable quarter.

2. Significant Insider Share Sale.

On August 4, 2026, Mika Derynck, a director at Enliven Therapeutics, executed a substantial sale of company stock. Derynck disposed of 158,795 shares of common stock for approximately $9.56 million, following the exercise of stock options. This significant insider selling transaction, which exceeded the $5 million threshold, occurred while ELVN stock was trading near its 52-week high of $62.32 and may have signaled a cautious internal sentiment to investors.

Show more
Updated on 9/30/2026

Enliven Therapeutics (ELVN) stock has lost about 10% since 6/30/2026 because of the following key factors:

1. Fiscal Q2 2026 Earnings Miss and Increased Losses.

Enliven Therapeutics reported its fiscal Q2 2026 financial results on August 5, 2026, revealing a net loss of $32.5 million, an increase from the $25.3 million net loss in fiscal Q2 2025. The company's Earnings Per Share (EPS) of -$0.49 for the quarter missed analysts' consensus estimates of -$0.39 by $0.10. Additionally, research and development expenses rose to $29.0 million in fiscal Q2 2026, up from $21.5 million in the prior year's comparable quarter.

2. Significant Insider Share Sale.

On August 4, 2026, Mika Derynck, a director at Enliven Therapeutics, executed a substantial sale of company stock. Derynck disposed of 158,795 shares of common stock for approximately $9.56 million, following the exercise of stock options. This significant insider selling transaction, which exceeded the $5 million threshold, occurred while ELVN stock was trading near its 52-week high of $62.32 and may have signaled a cautious internal sentiment to investors.

3. Persistent Unprofitability and Valuation Scrutiny.

Enliven Therapeutics remains a clinical-stage biopharmaceutical company without approved products or revenue, indicating continued unprofitability and reliance on future pipeline success. The company reported a trailing EPS of -$1.67, and analysts anticipate a further decrease in earnings, forecasting -$2.20 per share for the next year. While the company maintains a strong balance sheet with $895.2 million in cash and equivalents providing a cash runway into 2030, its current unprofitable status and the inherent risks of drug development contribute to ongoing market scrutiny regarding its valuation.

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Stock Movement Drivers

Fundamental Drivers

The -9.7% change in ELVN stock from 6/30/2026 to 9/30/2026 was primarily driven by a -5.1% change in the company's Shares Outstanding (Mil).
(LTM values as of)63020269302026Change
Stock Price ($)50.7545.84-9.7%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)6366-5.1%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 9/30/2026
ReturnCorrelation
ELVN-9.7% 
Market (SPY)2.1%36.5%
Sector (XLV)6.2%3.8%

Fundamental Drivers

The 16.9% change in ELVN stock from 3/31/2026 to 9/30/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120269302026Change
Stock Price ($)39.2045.8416.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)6266-5.9%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 9/30/2026
ReturnCorrelation
ELVN16.9% 
Market (SPY)17.6%12.0%
Sector (XLV)15.4%11.2%

Fundamental Drivers

The 123.9% change in ELVN stock from 9/30/2025 to 9/30/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)93020259302026Change
Stock Price ($)20.4745.84123.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)5266-21.3%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 9/30/2026
ReturnCorrelation
ELVN123.9% 
Market (SPY)15.4%16.2%
Sector (XLV)22.6%8.5%

Fundamental Drivers

The 235.6% change in ELVN stock from 9/30/2023 to 9/30/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)93020239302026Change
Stock Price ($)13.6645.84235.6%
Change Contribution By: 
Total Revenues ($ Mil)�00.0%
P/S Multiple�∞0.0%
Shares Outstanding (Mil)4166-37.9%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 9/30/2026
ReturnCorrelation
ELVN235.6% 
Market (SPY)84.5%27.2%
Sector (XLV)37.0%19.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ELVN Return-90%82%238%63%-32%202%111%
Peers Return-7%32%41%-1%13%1%93%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
ELVN Win Rate8%50%42%67%33%78% 
Peers Win Rate42%67%58%50%83%38% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
ELVN Max Drawdown-91%-59%-58%-35%-39%-30% 
Peers Max Drawdown-27%-19%-12%-23%-29%-15% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, APMD, ATTO, BLSM, BRVE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/30/2026 (YTD)

How Low Can It Go

EventELVNS&P 500
2025 US Tariff Shock
  % Loss-31.9%-18.8%
  % Gain to Breakeven46.9%23.1%
  Time to Breakeven55 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-44.6%-9.5%
  % Gain to Breakeven80.7%10.5%
  Time to Breakeven99 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-58.9%-24.5%
  % Gain to Breakeven143.4%32.4%
  Time to Breakeven156 days427 days

Compare to VRTX, APMD, ATTO, BLSM, BRVE

In The Past

Enliven Therapeutics's stock fell -31.9% during the 2025 US Tariff Shock. Such a loss loss requires a 46.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventELVNS&P 500
2025 US Tariff Shock
  % Loss-31.9%-18.8%
  % Gain to Breakeven46.9%23.1%
  Time to Breakeven55 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-44.6%-9.5%
  % Gain to Breakeven80.7%10.5%
  Time to Breakeven99 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-58.9%-24.5%
  % Gain to Breakeven143.4%32.4%
  Time to Breakeven156 days427 days

Compare to VRTX, APMD, ATTO, BLSM, BRVE

In The Past

Enliven Therapeutics's stock fell -31.9% during the 2025 US Tariff Shock. Such a loss loss requires a 46.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Enliven Therapeutics (ELVN)

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Enliven Therapeutics (ELVN) is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule inhibitors to treat various cancers. Based in Boulder, Colorado, the company aims to create new therapeutic options for patients battling challenging oncological conditions by targeting specific molecular pathways.

The company's core business revolves around its pipeline of small molecule kinase inhibitors, which are its main products under development. Its lead candidate, ELVN-001, is currently in a Phase 1 clinical trial for adults with chronic myeloid leukemia. Another significant pipeline asset is ELVN-002, which has also entered a Phase 1 clinical trial to evaluate its potential in treating people with cancers that harbor an abnormal HER2 gene.

Enliven Therapeutics primarily serves the market of cancer patients, specifically those diagnosed with chronic myeloid leukemia and individuals suffering from cancers characterized by an abnormal HER2 gene. Through its targeted therapies, the company seeks to provide advanced treatment options within these specialized areas of oncology.

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1. The Amgen or AstraZeneca of early-stage cancer drug development.

2. A startup Bristol Myers Squibb or Merck focused on pioneering new cancer therapies.

3. An Eli Lilly or Pfizer that's just starting to build its cancer drug pipeline.

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  • ELVN-001: A small molecule inhibitor undergoing Phase 1 clinical trials for chronic myeloid leukemia.
  • ELVN-002: A small molecule inhibitor in Phase 1 clinical trials for cancers with an abnormal HER2 gene.
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AI Analysis | Feedback

Enliven Therapeutics, Inc. (ELVN) is a clinical-stage biopharmaceutical company. As described, the company is focused on the discovery and development of small molecule inhibitors for cancer, with its lead candidates, ELVN-001 and ELVN-002, currently in Phase 1 clinical trials.

At this stage of development, Enliven Therapeutics does not have commercial products approved for sale. Therefore, the company does not have major customers that purchase its products. Its operations are funded primarily through investments and, potentially, through research collaborations or grants, rather than product sales to other companies or individuals.

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Rick Fair, Chief Executive Officer and Member of the Board of Directors Rick Fair has over 25 years of experience in product development and commercialization, with 20 years spent at large pharmaceutical companies. He most recently served as President and Chief Executive Officer of Bellicum Pharmaceuticals, a clinical-stage biopharmaceutical company. Prior to Bellicum, he spent more than 10 years at Roche/Genentech, where he led the Global Product Strategy Oncology/Hematology group, responsible for a $23 billion portfolio and overseeing the launch of five new therapies across solid and hematologic tumors. He also held leadership positions in market access and marketing at Johnson & Johnson. Benjamin Hohl, Chief Financial Officer and Head of Corporate Development Benjamin Hohl joined Enliven Therapeutics from the Healthcare Investment Banking Group at Goldman Sachs & Co LLC, where he worked as an investment banker for nearly a decade (July 2012 to July 2021). In this role, he advised biopharmaceutical and life sciences management teams and boards, executing a broad range of strategic and financing transactions, including over 50 deals totaling more than $75 billion in M&A, equity, and debt financings. He had previously served as Chief Financial Officer of Former Enliven since August 2021 before the company's merger in February 2023. Sam Kintz, Co-founder and Head of Pipeline Sam Kintz is a co-founder of Enliven Therapeutics and previously served as its Chief Executive Officer. Prior to co-founding Enliven, he was an Executive Director of Research at AbbVie and Head of Research at AbbVie Stemcentrx. He also held the position of Vice President, Business Development and Applications, at Biodesy, a biotech startup. His experience includes working at Roche Venture Fund, where he identified and evaluated investment opportunities in the life sciences industry, and as a medicinal chemist at Genentech. Enliven Therapeutics was initially backed by seed capital from OrbiMed and 5AM Ventures, and later secured Series A financing that included Roche Venture Fund, indicating a pattern of involvement with companies supported by private equity and venture capital firms. Joseph P. Lyssikatos, Co-founder and Chief Scientific Officer Joseph P. Lyssikatos is a co-founder of Enliven Therapeutics and serves as its Chief Scientific Officer. Before co-founding Enliven, he was the Vice President of Medicinal Chemistry and DMPK at Biogen. His career also includes roles as an Executive Director at AbbVie, Staff Scientist at Genentech, and Senior Director at Array Biopharma, starting his pharmaceutical career as a medicinal chemist at Pfizer Groton. He has contributed to over 30 programs, leading to the discovery of more than 15 clinical candidates, including four FDA-approved cancer therapies: Koselugo (selumetinib), Mektovi (binimetinib), Tukysa (tucatinib), and Retevmo (selpercatinib). Anish Patel, Co-founder and Chief Operating Officer Anish Patel is a co-founder and the Chief Operating Officer of Enliven Therapeutics.

AI Analysis | Feedback

The key risks to Enliven Therapeutics (ELVN) primarily stem from its nature as a clinical-stage biopharmaceutical company focused on drug development.

  1. Clinical Trial and Regulatory Risk: As a clinical-stage company, Enliven Therapeutics' success is highly dependent on its drug candidates, particularly ELVN-001 and ELVN-002, successfully progressing through clinical trials and ultimately receiving regulatory approval. The company is "heavily dependent on its lead candidate ELVN-001 for BCR-ABL, with significant clinical trial risks and regulatory uncertainties." There is a considerable "risk of failing to demonstrate safety and efficacy of product candidates", and even if trials are successful, there is "regulatory uncertainty" regarding obtaining approvals. This risk is inherent in the biopharmaceutical industry, where drug candidates often fail in various stages of development.
  2. Financial Sustainability and Need for Additional Funding: Enliven Therapeutics has consistently operated at a loss, with a significant accumulated deficit, reflecting the substantial investments required for pharmaceutical development. "ELVN's financial position reflects substantial investment in R&D, with a need for additional funding to sustain operations." The company's "financial health is a concern, as evidenced by its significant net losses and negative cash flows." To continue advancing its product candidates through clinical trials and toward commercialization, Enliven Therapeutics will likely need to secure additional capital, which could dilute existing shareholders.
  3. Competition: The pharmaceutical industry is highly competitive, with numerous established companies and emerging biotech firms vying for market share. Enliven Therapeutics "faces competition from companies with greater financial resources and market presence." Competitors could develop more effective or affordable therapies, achieve regulatory approvals more quickly, or establish strong market positions before Enliven Therapeutics can commercialize its own products.

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Enliven Therapeutics' main products, ELVN-001 and ELVN-002, target specific cancer markets with the following addressable market sizes:

  • ELVN-001 (Chronic Myeloid Leukemia): The global chronic myeloid leukemia (CML) treatment market was valued at approximately USD 8.59 billion in 2023 and is projected to reach USD 16.33 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.4%. Another estimate for the global CML treatment market indicates a value of USD 8.6 billion in 2023, with a projection to reach USD 14.3 billion by 2033, growing at a CAGR of 5.2%. For the 7 major markets (7MM), which include the United States, Germany, France, Italy, Spain, the United Kingdom, and Japan, the CML market reached USD 5.7 billion in 2024 and is expected to grow to USD 8.9 billion by 2035.

  • ELVN-002 (Cancers harboring an abnormal HER2 gene): This product targets HER2+ and HER2 mutant tumors, including HER2-positive breast cancer and HER2+ gastric cancer.

    • For the global HER2-positive breast cancer treatment market, it was valued at USD 10.95 billion in 2025 and is projected to reach USD 13.79 billion by 2031, with a CAGR of 3.92%. The 7 major markets (7MM) for metastatic HER2-Positive breast cancer were valued at USD 2,711.6 million in 2024 and are anticipated to reach USD 3,108.1 million by 2035.
    • For HER2+ gastric cancer (including GEJ) in the 7 major markets (7MM), the total market size was approximately USD 700 million in 2024 and is projected to increase through 2034.

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Enliven Therapeutics (ELVN), a clinical-stage biopharmaceutical company, is focused on the discovery and development of small molecule inhibitors for cancer. Given its current stage of development, expected revenue growth over the next 2-3 years will primarily be driven by key pipeline advancements and strategic activities rather than product sales.

Here are 3-5 expected drivers of Enliven Therapeutics' future revenue growth:

  1. Advancement of ELVN-001 through pivotal clinical trials: A significant driver for future revenue growth is the successful progression and initiation of the Phase 3 ENABLE-2 pivotal trial for ELVN-001 in chronic myeloid leukemia (CML), which is planned for the second half of 2026. Positive initial Phase 1b data for ELVN-001 has already been reported, and continued successful clinical development will be critical to its potential commercialization.
  2. Positive clinical data readouts for ELVN-001: Ongoing positive data readouts from the ENABLE trial for ELVN-001 throughout 2026, especially as it advances into later-stage studies, will bolster its market potential and attract further investment or partnerships.
  3. Strategic partnerships and licensing agreements: As a clinical-stage company, Enliven Therapeutics may generate future revenue through strategic collaborations, licensing agreements, and partnerships. These could include upfront payments, development milestone payments, and future royalties from ELVN-001 or other pipeline candidates. The company is actively evaluating strategic collaborations to accelerate development timelines or maximize commercial value.
  4. Potential for expedited regulatory pathways and market entry for ELVN-001: ELVN-001 has received Orphan Drug Designation for CML, and the company intends to engage with regulatory authorities to discuss potential expedited approval pathways. A faster path to market, should the clinical data support it and regulators agree, would accelerate the timeline for commercialization and subsequent revenue generation.

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Share Issuance

  • Enliven Therapeutics completed a $200 million equity raise in June 2025, which included the sale of new shares and warrants.
  • A stock sale in 2025 grossed approximately $230 million in proceeds, contributing to the company's cash reserves.
  • The weighted-average shares outstanding, basic and diluted, increased from 49.858 million in the fourth quarter of 2024 to 62.213 million in the fourth quarter of 2025.

Inbound Investments

  • Enliven Therapeutics closed a $200 million equity raise in June 2025.
  • In August 2024, the company received a $10 million milestone payment from Cardurion as per an asset purchase agreement established prior to the merger between Imara Inc. and Enliven Inc.

Capital Expenditures

  • While specific capital expenditure figures for property, plant, and equipment are not detailed, the company's significant investment is in research and development.
  • Research and development expenses for the full year 2025 totaled $85.9 million, an increase from $80.8 million in 2024 and $64.6 million in 2023.
  • These expenses are primarily focused on advancing its pipeline of small molecule kinase inhibitors, including ELVN-001 for chronic myeloid leukemia and ELVN-002 for cancers with an abnormal HER2 gene.

Peer Outperformance in Biotechnology

ELVN has outperformed 99% of its 365 Biotechnology peers over 5Y. Biotechnology ranks 10th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that ELVN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
88%
of 455 industry peers · 123.9% return
3Y
88%
of 405 industry peers · 235.6% return
5Y
99%
of 365 industry peers · 1037.5% return
No Biotechnology peer with a comparable growth profile has beaten ELVN by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is ELVN's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 3.9%42.1%85.6% CAH 390% · MCK 337% · COR 164%
Health Care Services 20 17.4%33.7%5.5% HIMS 308% · RDNT 137% · DGX 79%
Managed Health Care 8 31.8%-8.0%2.3% OSCR 75% · HQY 32% · ELV 11%
Health Care Facilities 24 0.8%7.6%-4.7% THC 271% · NHC 256% · ENSG 130%
Health Care Equipment 50 -5.5%-1.3%-16.0% POCI 10275% · UFPT 380% · GKOS 238%
Pharmaceuticals 62 -7.6%-2.4%-30.4% INDV 1132% · LQDA 1000% · ETON 922%
Health Care Supplies 12 24.9%-8.1%-38.3% LNTH 285% · HAE 46% · MMSI 19%
Life Sciences Tools & Services 109 -2.6%-15.8%-66.2% SNWV 1822% · NTRA 268% · MEDP 219%
Health Care Technology 21 -32.2%-53.6%-77.8% SPOK 69% · HSTM 3% · VEEV -1%
Biotechnology ← 366 -10.8%-26.3%-78.3% CELZ 1235% · DNTH 1072% · ELVN 1037%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ELVNVRTXAPMDATTOBLSMBRVEMedian
NameEnliven .Vertex P.Apnimed Attovia .BlossomH.Bravehea. 
Mkt Price46.23506.7822.5517.8418.7921.7822.16
Mkt Cap3.1128.6----65.8
Rev LTM012,5871170000
Op Inc LTM-1244,77723-74-72-31-52
FCF LTM-673,796-84-64-65-25-65
FCF 3Y Avg-701,957----943
CFO LTM-674,293-84-62-64-22-63
CFO 3Y Avg-702,398----1,164

Growth & Margins

ELVNVRTXAPMDATTOBLSMBRVEMedian
NameEnliven .Vertex P.Apnimed Attovia .BlossomH.Bravehea. 
Rev Chg LTM-10.2%----10.2%
Rev Chg 3Y Avg-9.8%----9.8%
Rev Chg Q-12.5%----12.5%
QoQ Delta Rev Chg LTM-3.0%----3.0%
Op Inc Chg LTM-8.9%2,497.9%----1,244.5%
Op Inc Chg 3Y Avg-31.7%792.2%----380.3%
Op Mgn LTM-37.9%19.9%-16,551.6%--19.9%
Op Mgn 3Y Avg-23.9%----23.9%
QoQ Delta Op Mgn LTM--0.2%-----0.2%
CFO/Rev LTM-34.1%-71.5%-13,695.3%---71.5%
CFO/Rev 3Y Avg-19.6%----19.6%
FCF/Rev LTM-30.2%-71.5%-14,194.7%---71.5%
FCF/Rev 3Y Avg-15.7%----15.7%

Valuation

ELVNVRTXAPMDATTOBLSMBRVEMedian
NameEnliven .Vertex P.Apnimed Attovia .BlossomH.Bravehea. 
Mkt Cap3.1128.6----65.8
P/S-10.2----10.2
P/Op Inc-24.626.9----1.2
P/EBIT-24.625.5----0.5
P/E-28.929.2----0.2
P/CFO-45.729.9-----7.9
Total Yield-3.5%3.3%-----0.1%
Dividend Yield0.0%0.0%----0.0%
FCF Yield 3Y Avg-5.1%1.6%-----1.7%
D/E0.00.0----0.0
Net D/E-0.3-0.0-----0.2

Returns

ELVNVRTXAPMDATTOBLSMBRVEMedian
NameEnliven .Vertex P.Apnimed Attovia .BlossomH.Bravehea. 
1M Rtn-20.1%-6.9%-14.1%-16.6%2.7%-14.6%-14.3%
3M Rtn-5.2%1.8%-9.8%-18.5%17.4%-26.9%-7.5%
6M Rtn22.3%13.3%-9.8%-18.5%17.4%-26.9%1.8%
12M Rtn125.8%29.4%-9.8%-18.5%17.4%-26.9%3.8%
3Y Rtn238.4%45.7%-9.8%-18.5%17.4%-26.9%3.8%
1M Excs Rtn-19.7%-6.5%-13.6%-16.2%3.1%-14.1%-13.9%
3M Excs Rtn-7.5%-0.4%-12.1%-20.9%15.2%-29.3%-9.8%
6M Excs Rtn0.6%-3.2%-27.5%-36.4%0.1%-45.5%-15.3%
12M Excs Rtn112.7%13.8%-25.1%-34.0%2.5%-42.9%-11.3%
3Y Excs Rtn155.8%-29.5%-88.4%-98.1%-59.6%-109.3%-74.0%

Comparison Analyses

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Financials

Segment Financials

Net Income by Segment
$ Mil202520242023
Single Segment-104-89-72
Total-104-89-72


Assets by Segment
$ Mil202320222021
Single Segment27283113
Total27283113


Price Behavior

Price Behavior
Market Price$45.84 
Market Cap ($ Bil)3.0 
First Trading Date03/12/2020 
Distance from 52W High-25.0% 
   50 Days200 Days
DMA Price$55.35$39.99
DMA Trendupup
Distance from DMA-17.2%14.6%
 3M1YR
Volatility39.2%79.3%
Downside Capture190.1538.83
Upside Capture133.89126.65
Correlation (SPY)36.3%16.3%
ELVN Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.781.511.320.510.991.37
Up Beta-0.582.541.940.441.691.22
Down Beta-0.21-0.56-1.19-1.120.821.21
Up Capture-5%74%138%98%145%547%
Bmk +ve Days6162766132424
Stock +ve Days8183060127364
Down Capture331%251%195%100%47%109%
Bmk -ve Days16263760120328
Stock -ve Days14243466125386

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ELVN
ELVN126.5%79.1%1.33-
Sector ETF (XLV)25.6%16.1%1.228.5%
Equity (SPY)15.9%13.0%0.8716.2%
Gold (GLD)8.1%29.6%0.264.7%
Commodities (DBC)43.1%20.8%1.61-6.6%
Real Estate (VNQ)2.2%13.6%-0.0917.0%
Bitcoin (BTCUSD)-27.1%44.5%-0.589.1%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ELVN
ELVN21.3%84.7%0.57-
Sector ETF (XLV)6.7%15.2%0.2516.7%
Equity (SPY)13.2%17.2%0.5921.9%
Gold (GLD)18.2%18.9%0.785.0%
Commodities (DBC)10.6%19.6%0.422.4%
Real Estate (VNQ)0.5%18.9%-0.0819.3%
Bitcoin (BTCUSD)13.9%52.3%0.4411.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ELVN
ELVN-3.0%86.4%0.32-
Sector ETF (XLV)10.7%16.7%0.5212.9%
Equity (SPY)15.4%17.9%0.7317.1%
Gold (GLD)11.8%16.4%0.584.2%
Commodities (DBC)8.4%18.1%0.384.3%
Real Estate (VNQ)4.5%20.7%0.1814.4%
Bitcoin (BTCUSD)63.6%66.2%1.037.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity8.6 Mil
Short Interest: % Change Since 83120260.2%
Average Daily Volume1.0 Mil
Days-to-Cover Short Interest9.0 days
Basic Shares Quantity66.2 Mil
Short % of Basic Shares13.0%

Earnings Returns History

Updated 9/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20261.0%-3.0%-0.1%
5/7/20261.1%6.9%-16.5%
3/3/20264.3%5.2%31.4%
11/12/2025-0.1%8.9%-15.4%
8/13/2025-1.1%-1.6%-0.1%
5/14/2025-10.4%-14.9%10.2%
3/13/20252.2%3.1%-18.6%
11/13/2024-3.4%-1.4%-10.3%
...
SUMMARY STATS   
# Positive12107
# Negative81013
Median Positive1.9%7.9%27.1%
Median Negative-1.8%-5.6%-14.5%
Max Positive9.7%56.5%72.8%
Max Negative-19.0%-21.4%-35.1%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20261.0%-3.0%-0.1%
5/7/20261.1%6.9%-16.5%
3/3/20264.3%5.2%31.4%
11/12/2025-0.1%8.9%-15.4%
8/13/2025-1.1%-1.6%-0.1%
5/14/2025-10.4%-14.9%10.2%
3/13/20252.2%3.1%-18.6%
11/13/2024-3.4%-1.4%-10.3%
8/13/20241.3%3.6%3.8%
5/14/20240.5%-4.1%-7.8%
3/14/20243.7%56.5%72.8%
11/9/2023-1.5%-9.8%-5.9%
8/10/20230.1%-7.2%-4.9%
5/11/20231.6%5.0%7.9%
3/15/20229.7%41.0%-31.2%
11/9/20215.4%-3.2%-21.6%
8/6/2021-1.5%-21.4%-14.5%
5/11/20217.3%15.8%27.1%
3/5/2021-19.0%-18.0%-35.1%
11/5/2020-2.1%18.2%57.0%
SUMMARY STATS   
# Positive12107
# Negative81013
Median Positive1.9%7.9%27.1%
Median Negative-1.8%-5.6%-14.5%
Max Positive9.7%56.5%72.8%
Max Negative-19.0%-21.4%-35.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/07/202610-Q
12/31/202503/03/202610-K
09/30/202511/12/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
12/31/202403/13/202510-K
09/30/202411/13/202410-Q
06/30/202408/13/202410-Q
03/31/202405/14/202410-Q
12/31/202303/14/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/07/202610-Q
12/31/202503/03/202610-K
09/30/202511/12/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
12/31/202403/13/202510-K
09/30/202411/13/202410-Q
06/30/202408/13/202410-Q
03/31/202405/14/202410-Q
12/31/202303/14/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q

Insider Activity

Updated 9/21/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hohl, BenjaminCHIEF FINANCIAL OFFICERDirectSell921202650.356,018303,0031,913,279Form
2Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell921202650.355,000251,7541,258,769Form
3Hohl, BenjaminCHIEF FINANCIAL OFFICERDirectSell819202658.586,018352,5512,345,420Form
4Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell819202658.595,000292,9311,464,654Form
5Derynck, Mika KDirectSell806202660.21158,795  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hohl, BenjaminCHIEF FINANCIAL OFFICERDirectSell921202650.356,018303,0031,913,279Form
2Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell921202650.355,000251,7541,258,769Form
3Hohl, BenjaminCHIEF FINANCIAL OFFICERDirectSell819202658.586,018352,5512,345,420Form
4Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell819202658.595,000292,9311,464,654Form
5Derynck, Mika KDirectSell806202660.21158,795  Form
6Hohl, BenjaminCHIEF FINANCIAL OFFICERDirectSell721202652.646,018316,7802,424,228Form
7Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell721202652.675,000263,3731,316,867Form
8Kunkel, Lori AnneDirectSell708202650.4910,000504,9032,114,737Form
9Orbimed, Advisors LlcSee FootnotesSell622202645.36860,12339,014,0469,951,922Form
10Hohl, BenjaminCHIEF FINANCIAL OFFICERDirectSell622202643.806,018263,5772,233,706Form
11Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell622202643.805,000219,0171,095,084Form
12Orbimed, Advisors LlcSee FootnotesSell617202645.02281,40812,668,98811,062,675Form
13Kunkel, Lori AnneDirectSell609202634.5410,000345,3511,791,821Form
14Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell520202639.795,000198,971994,857Form
15Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell421202647.675,000238,3521,191,762Form
16Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell327202635.1040,0001,404,024877,515Form
17Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell319202627.765,000138,800694,000Form
18Hohl, BenjaminCHIEF FINANCIAL OFFICERDirectSell310202629.5810,000295,8391,508,779Form
19Collins, Helen LouiseCHIEF MEDICAL OFFICERDirectSell219202626.1745,0001,177,862654,368Form
20Heyman, Richard ASee footnoteSell219202626.181,23032,196592,806Form
21Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell210202629.045,000145,21921,497,872Form
22Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell122202626.7520,000535,09919,937,467Form
23Heyman, Richard ASee footnoteSell122202626.751,23032,902638,691Form
24Patel, AnishCHIEF OPERATING OFFICERSee footnoteSell113202627.9948,3001,351,7626,017,469Form
25Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell112202627.2291,1982,482,57820,829,832Form
26Heyman, Richard ASee footnoteSell112202625.004,285107,125627,678Form
27Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell112202624.0541,302993,43620,598,627Form
28Heyman, Richard ASee footnoteSell112202625.039,635241,156639,369Form
29Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell1223202516.845,00084,20615,118,143Form
30Patel, AnishCHIEF OPERATING OFFICERSee footnoteSell1210202521.026,663140,0735,535,453Form
31Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell1121202522.3312,500279,15520,159,174Form
32Kintz, SamuelPRESIDENT AND CEOSee footnoteSell1119202521.8212,500272,73919,427,552Form
33Patel, AnishCHIEF OPERATING OFFICERSee footnoteSell1112202517.406,667116,0344,698,696Form
34Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell1022202522.0812,500276,02520,209,181Form
35Kintz, SamuelPRESIDENT AND CEOSee footnoteSell1021202521.3312,500266,65419,260,763Form
36Patel, AnishCHIEF OPERATING OFFICERSee footnoteSell1009202520.106,667133,9935,559,903Form
37Hohl, BenjaminCHIEF FINANCIAL OFFICERDirectSell1001202520.403,25066,291469,138Form
38Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell930202520.254,00081,00518,786,888Form
39Kintz, SamuelPRESIDENT AND CEOSee footnoteSell930202520.063,70074,22818,364,137Form
40Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell925202520.031,50030,04518,661,711Form
41Kintz, SamuelPRESIDENT AND CEOSee footnoteSell925202520.032,80056,08418,409,413Form
42Lyssikatos, Joseph PCHIEF SCIENTIFIC OFFICERSee footnoteSell923202519.397,000135,69718,090,162Form
43Kintz, SamuelPRESIDENT AND CEOSee footnoteSell919202520.251,00020,25018,668,313Form
44Kintz, SamuelPRESIDENT AND CEOSee footnoteSell919202519.095,00095,47317,622,254Form
45Patel, AnishCHIEF OPERATING OFFICERSee footnoteSell910202520.246,667134,9575,734,891Form

Investor Activity (13F)

Updated Oct 1, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Commodore Capital LP$128.4 Mil7.4%36TRIM -30.2%13F
Fairmount Funds Management LLC$72.7 Mil5.3%12TRIM -50.0%13F
Jones Hill Capital LP$23.2 Mil5.0%26New13F
Novo Holdings A/S$50.2 Mil4.1%22TRIM -13.5%13F
Avidity Partners Management LP$15.7 Mil3.2%45ADD +185.1%13F
Spruce Street Capital LP$12.9 Mil3.1%28TRIM -26.2%13F
First Turn Management, LLC$24.5 Mil2.7%33New13F
Venrock Adviser, LLC$67.7 Mil2.5%33TRIM -46.5%13F
Patient Square Capital LP$7.8 Mil1.4%29TRIM -35.1%13F
First Light Asset Management, LLC$7.9 Mil0.7%35New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
First Turn Management, LLC$24.5 Mil2.7%33New13F
Jones Hill Capital LP$23.2 Mil5.0%26New13F
First Light Asset Management, LLC$7.9 Mil0.7%35New13F
Avidity Partners Management LP$15.7 Mil3.2%45ADD +185.1%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
5AM Venture Management, LLC$11.9 Mil3.7%21ExitedDec 31, 202513F
Fairmount Funds Management LLC$72.7 Mil5.3%12TRIM -50.0%Mar 31, 202613F
Venrock Adviser, LLC$67.7 Mil2.5%33TRIM -46.5%Mar 31, 202613F
Patient Square Capital LP$7.8 Mil1.4%29TRIM -35.1%Mar 31, 202613F
Commodore Capital LP$128.4 Mil7.4%36TRIM -30.2%Mar 31, 202613F
Spruce Street Capital LP$12.9 Mil3.1%28TRIM -26.2%Mar 31, 202613F
Novo Holdings A/S$50.2 Mil4.1%22TRIM -13.5%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Commodore Capital LP$128.4 Mil7.4%36TRIM -30.2%13F
Fairmount Funds Management LLC$72.7 Mil5.3%12TRIM -50.0%13F
Venrock Adviser, LLC$67.7 Mil2.5%33TRIM -46.5%13F
Novo Holdings A/S$50.2 Mil4.1%22TRIM -13.5%13F
First Turn Management, LLC$24.5 Mil2.7%33New13F
Jones Hill Capital LP$23.2 Mil5.0%26New13F
Avidity Partners Management LP$15.7 Mil3.2%45ADD +185.1%13F
Spruce Street Capital LP$12.9 Mil3.1%28TRIM -26.2%13F
First Light Asset Management, LLC$7.9 Mil0.7%35New13F
Patient Square Capital LP$7.8 Mil1.4%29TRIM -35.1%13F
Core Cache Last Updated: 9/30/2026