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

Enliven Therapeutics, Inc. (NASDAQ:ELVN) traded down 9.8% during mid-day trading on Friday after an insider sold shares in the company. The company 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.

Specifically, COO Anish Patel sold 21,700 shares of the company’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 SEC, which is available at this hyperlink. Also, CFO Benjamin Hohl sold 1,000 shares of the company’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 transaction of $25,040.00. Following the completion of the transaction, the chief financial officer now owns 13,000 shares in the company, valued at approximately $325,520. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

ELVN has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of Enliven Therapeutics in a research report on Tuesday, October 1st. Robert W. Baird lifted their price target on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, BTIG Research started coverage on shares of Enliven Therapeutics in a research note on Friday, December 13th. They issued a “buy” rating and a $42.00 price objective for the company. Four equities research 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.com, the stock currently has an average rating of “Buy” and an average price target of $38.25.

Enliven Therapeutics Stock Performance

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

Institutional Investors Weigh In On Enliven Therapeutics

Several institutional investors have recently modified their holdings of ELVN. Quest Partners LLC lifted its position in shares of Enliven Therapeutics by 87.3% during the 2nd quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock worth $37,000 after buying an additional 742 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Enliven Therapeutics by 64.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock worth $232,000 after acquiring an additional 3,559 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Enliven Therapeutics in the third quarter valued at $256,000. Verition Fund Management LLC purchased a new stake in Enliven Therapeutics in the third quarter valued at $271,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Enliven Therapeutics during the second quarter worth about $322,000. 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.