Enliven Therapeutics (NASDAQ:ELVN) Stock Price Down 9.8% Following Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares traded down 9.8% during mid-day trading on Friday following insider selling activity. 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 Enliven Therapeutics stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $24.18, for a total transaction of $524,706.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

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

Enliven Therapeutics Stock Performance

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

Hedge Funds Weigh In On Enliven Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC lifted its position in shares of Enliven Therapeutics by 87.3% in 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted 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 acquiring an additional 3,559 shares during the last quarter. SG Americas Securities LLC acquired a new position in Enliven Therapeutics during the 3rd quarter worth about $256,000. Verition Fund Management LLC acquired a new position in shares of Enliven Therapeutics in the 3rd quarter valued at about $271,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Enliven Therapeutics in the 2nd quarter valued at about $322,000. Institutional investors and hedge funds own 95.08% of the company’s stock.

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.