Enliven Therapeutics (NASDAQ:ELVN) Trading Down 7.8% – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price fell 7.8% on Tuesday . The stock traded as low as $21.12 and last traded at $20.70. 109,994 shares were traded during trading, a decline of 59% from the average session volume of 269,232 shares. The stock had previously closed at $22.46.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. HC Wainwright upped their price target on shares of Enliven Therapeutics from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday. BTIG Research began coverage on shares of Enliven Therapeutics in a report on Friday, December 13th. They issued a “buy” rating and a $42.00 target price for the company. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $38.75.

Enliven Therapeutics Stock Down 5.1 %

The stock has a market capitalization of $1.04 billion, a P/E ratio of -11.22 and a beta of 1.04. The business has a fifty day moving average price of $21.32 and a 200-day moving average price of $23.79.

Enliven Therapeutics (NASDAQ:ELVN) last issued its earnings results on Thursday, March 13th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.07. The business had revenue of $0.03 million during the quarter. On average, equities analysts expect that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Benjamin Hohl sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $20.41, for a total value of $66,332.50. Following the transaction, the chief financial officer now owns 13,000 shares in the company, valued at $265,330. This represents a 20.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anish Patel sold 21,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $24.18, for a total transaction of $524,706.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,784 shares of company stock valued at $1,610,375. Insiders own 29.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in Enliven Therapeutics by 15.3% during the 4th quarter. Wellington Management Group LLP now owns 80,916 shares of the company’s stock valued at $1,821,000 after buying an additional 10,746 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Enliven Therapeutics by 10.2% during the fourth quarter. California State Teachers Retirement System now owns 20,914 shares of the company’s stock worth $471,000 after acquiring an additional 1,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Enliven Therapeutics by 67.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,714 shares of the company’s stock valued at $984,000 after acquiring an additional 17,546 shares in the last quarter. Stempoint Capital LP bought a new stake in Enliven Therapeutics in the 4th quarter valued at $2,176,000. Finally, Polar Capital Holdings Plc boosted its holdings in shares of Enliven Therapeutics by 267.6% during the 4th quarter. Polar Capital Holdings Plc now owns 2,389,668 shares of the company’s stock valued at $53,768,000 after purchasing an additional 1,739,668 shares during the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.

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.