SCHEDULE: FMR LLC Reports 13.3% Stake in Enliven Therapeutics

FMR LLC and Abigail P. Johnson have disclosed a combined beneficial ownership of 13.3% of Enliven Therapeutics Inc.'s common stock as of September 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson, as reporting persons, have filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in ENLIVEN THERAPEUTICS INC.
• As of September 30, 2025, the aggregate amount beneficially owned by these reporting persons is 7,870,219 shares of common stock.
• This represents 13.3% of the total outstanding common stock of ENLIVEN THERAPEUTICS INC.
• FMR LLC holds sole voting power over 7,869,386 shares and sole dispositive power over 7,870,219 shares.
• Abigail P. Johnson holds sole dispositive power over 7,870,219 shares, with no sole or shared voting power.
• The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• FMR LLC is classified as a Parent Holding Company (HC), and Abigail P. Johnson is classified as an Individual (IN).
• Subsidiaries of FMR LLC, including Fidelity Management & Research Company LLC, are identified as beneficially owning 5% or greater of the outstanding shares.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership and does not contain information that would inherently be positive or negative for the issuer's operational performance or financial health. It simply reports a significant institutional stake.

Positives

• A significant institutional investor, FMR LLC, maintains a substantial stake (13.3%) in Enliven Therapeutics, potentially signaling confidence in the company's long-term prospects.
• The filing explicitly states that the shares are held in the ordinary course of business and not for influencing control, suggesting a passive investment strategy.

Negatives

• No specific negative information is contained within this beneficial ownership report.

Risks

• The filing itself does not detail operational risks for Enliven Therapeutics. However, a large institutional holding could introduce concentration risk if the holder decides to significantly alter their position.
• The Johnson family's control over FMR LLC, as described in Exhibit 99, means that a single family group ultimately influences the voting and dispositive power of a significant block of Enliven Therapeutics shares.

Future Outlook

This filing is a disclosure of current beneficial ownership and does not contain any forward-looking statements or guidance regarding the issuer's future performance or strategic direction.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

Schedule 13G filings are standard disclosures for institutional investors who acquire more than 5% of a company's voting securities but do not intend to influence or change control. This filing indicates a significant, passive investment by a major asset manager, FMR LLC, in Enliven Therapeutics, which is a common occurrence in the public markets as funds build positions in companies they deem attractive.

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Legal Proceedings

• The filing does not mention any litigation or regulatory matters concerning ENLIVEN THERAPEUTICS INC or the reporting persons.

Related Party Transactions

• The filing does not disclose any related party dealings involving ENLIVEN THERAPEUTICS INC.

Stakeholder Impact

• Shareholders: Existing shareholders may view a significant institutional stake as a vote of confidence, potentially stabilizing the stock.
• Management: Management of Enliven Therapeutics will be aware of a large, passive institutional holder, which can influence investor relations strategies.
• Employees, Customers, Suppliers, Creditors: The filing is unlikely to have a direct or immediate impact on these stakeholders, as it concerns ownership structure rather than operational changes.

Next Steps

• The filing does not outline any specific future actions or milestones for Enliven Therapeutics or the reporting persons beyond the ongoing beneficial ownership.

Key Dates

Recommendation

This Schedule 13G filing primarily reports a significant, passive ownership stake by FMR LLC and Abigail P. Johnson in Enliven Therapeutics. While a 13.3% stake from a prominent institutional investor can be seen as a positive signal of confidence, the filing itself provides no new operational or financial data about Enliven Therapeutics to warrant a 'buy' or 'sell' recommendation. Investors should 'hold' and await further fundamental news or financial reports from the company to make a more informed investment decision.

Keywords

Enliven Therapeutics, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Equity Stake, SEC Filing, Investment Management