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

Enliven Therapeutics, Inc. (NASDAQ:ELVN) was down 9.8% on Friday following insider selling activity. The company traded as low as $21.72 and last traded at $21.78. Approximately 104,222 shares traded hands during 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 company’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 value of $524,706.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Benjamin Hohl sold 1,000 shares of the company’s 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 owns 13,000 shares of the company’s stock, valued at approximately $325,520. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

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

Enliven Therapeutics Stock Performance

The company has a market cap of $1.06 billion, a PE ratio of -11.44 and a beta of 1.04. The company’s 50-day simple moving average is $24.54 and its 200 day simple moving average is $24.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Enliven Therapeutics by 295.8% during the third quarter. Barclays PLC now owns 56,217 shares of the company’s stock worth $1,435,000 after purchasing an additional 42,012 shares during the last quarter. First Turn Management LLC lifted its stake in Enliven Therapeutics by 29.5% in the third quarter. First Turn Management LLC now owns 535,092 shares of the company’s stock valued at $13,666,000 after buying an additional 121,849 shares during the last quarter. Geode Capital Management LLC lifted its stake in Enliven Therapeutics by 9.9% in the third quarter. Geode Capital Management LLC now owns 750,208 shares of the company’s stock valued at $19,164,000 after buying an additional 67,813 shares during the last quarter. Ally Bridge Group NY LLC acquired a new stake in shares of Enliven Therapeutics in the third quarter valued at approximately $5,998,000. Finally, Patient Square Capital LP acquired a new stake in Enliven Therapeutics during the 3rd quarter worth $2,313,000. 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.