Enliven Therapeutics (NASDAQ:ELVN) Shares Down 9.8% – Here’s Why

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price traded down 9.8% during trading on Friday . The stock traded as low as $21.72 and last traded at $21.78. 104,222 shares traded hands during trading, a decline of 33% from the average session volume of 156,391 shares. The stock had previously closed at $24.15.

Analyst Ratings Changes

Several equities analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a research report on Tuesday, October 1st. BTIG Research assumed coverage on Enliven Therapeutics in a research report on Friday, December 13th. They set a “buy” rating and a $42.00 target price for the company. Finally, Robert W. Baird lifted their price objective on Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $38.25.

Enliven Therapeutics Trading Down 10.4 %

The company has a 50 day moving average price of $24.66 and a 200 day moving average price of $24.39. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -11.38 and a beta of 1.04.

Insider Activity

In related news, Director Richard A. Heyman sold 1,270 shares of Enliven Therapeutics stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $27.67, for a total transaction of $35,140.90. Following the completion of the sale, the director now directly owns 124,490 shares of the company’s stock, valued at $3,444,638.30. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Benjamin Hohl sold 1,000 shares of Enliven Therapeutics stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $25.04, for a total value of $25,040.00. Following the sale, the chief financial officer now directly owns 13,000 shares of the company’s stock, valued at approximately $325,520. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,138 shares of company stock valued at $587,355. Company insiders own 29.20% of the company’s stock.

Institutional Investors Weigh In On Enliven Therapeutics

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC grew its stake in shares of Enliven Therapeutics by 87.3% during the second quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock worth $37,000 after purchasing an additional 742 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Enliven Therapeutics by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock worth $232,000 after purchasing an additional 3,559 shares during the period. SG Americas Securities LLC acquired a new position in Enliven Therapeutics in the third quarter valued at about $256,000. Verition Fund Management LLC acquired a new position in Enliven Therapeutics in the third quarter valued at about $271,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Enliven Therapeutics in the second quarter valued at about $322,000. 95.08% of the stock is owned by institutional investors and hedge funds.

Enliven Therapeutics Company Profile

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.