Enliven Therapeutics (NASDAQ:ELVN) Shares Down 9.8% After Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN) was down 9.8% on Friday after an insider sold shares in the company. The stock traded as low as $21.72 and last traded at $21.78. Approximately 104,222 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 156,391 shares. The stock had previously closed at $24.15.

Specifically, COO Anish Patel sold 21,700 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $24.18, for a total value of $524,706.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Benjamin Hohl sold 1,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $325,520. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

ELVN has been the topic of a number of research analyst reports. BTIG Research started coverage on Enliven Therapeutics in a research report on Friday, December 13th. They set a “buy” rating and a $42.00 target price on the stock. Robert W. Baird increased their price objective on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a report on Tuesday, October 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $38.25.

Enliven Therapeutics Price Performance

The firm has a market cap of $1.06 billion, a PE ratio of -11.44 and a beta of 1.04. The stock has a 50-day moving average price of $24.54 and a 200 day moving average price of $24.41.

Institutional Investors Weigh In On Enliven Therapeutics

Institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Enliven Therapeutics by 10.6% during the 3rd quarter. FMR LLC now owns 6,296,179 shares of the company’s stock valued at $160,804,000 after acquiring an additional 601,611 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Enliven Therapeutics during the third quarter worth about $8,199,000. Janus Henderson Group PLC lifted its stake in shares of Enliven Therapeutics by 43.0% during the third quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company’s stock worth $26,611,000 after purchasing an additional 313,019 shares in the last quarter. Ally Bridge Group NY LLC purchased a new stake in shares of Enliven Therapeutics in the third quarter worth about $5,998,000. Finally, Marshall Wace LLP acquired a new stake in shares of Enliven Therapeutics in the second quarter valued at about $4,489,000. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

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.