Enliven Therapeutics (NASDAQ:ELVN) Trading Down 2.9% – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price was down 2.9% on Tuesday . The company traded as low as $22.53 and last traded at $22.74. Approximately 10,609 shares were traded during trading, a decline of 96% from the average daily volume of 253,241 shares. The stock had previously closed at $23.43.

Wall Street Analysts Forecast Growth

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

Enliven Therapeutics Stock Performance

The company has a market capitalization of $1.12 billion, a P/E ratio of -12.11 and a beta of 1.02. The company has a 50-day simple moving average of $26.02 and a 200 day simple moving average of $24.26.

Insider Buying and Selling

In other Enliven Therapeutics news, insider Joseph P. Lyssikatos sold 847 shares of Enliven Therapeutics stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.00, for a total value of $25,410.00. Following the sale, the insider now directly owns 1,015,188 shares in the company, valued at approximately $30,455,640. The trade was a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Samuel Kintz sold 12,206 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $27.51, for a total transaction of $335,787.06. Following the transaction, the chief executive officer now owns 1,036,523 shares in the company, valued at approximately $28,514,747.73. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,195 shares of company stock worth $3,581,772 in the last three months. Insiders own 29.20% of the company’s stock.

Institutional Investors Weigh In On Enliven Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ELVN. Quest Partners LLC lifted its stake in 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 last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Enliven Therapeutics by 64.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock valued at $232,000 after purchasing an additional 3,559 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Enliven Therapeutics in the 3rd quarter valued at $256,000. Verition Fund Management LLC acquired a new position in Enliven Therapeutics during the 3rd quarter worth approximately $271,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Enliven Therapeutics during the 2nd quarter valued at $322,000. Institutional investors and hedge funds own 95.08% of the company’s stock.

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.