Enliven Therapeutics (NASDAQ:ELVN) Trading Down 2.9% – Should You Sell?

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

Analysts Set New Price Targets

ELVN has been the topic of a number of recent research reports. Robert W. Baird upped their target price on 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 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Enliven Therapeutics in a research 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $38.25.

Enliven Therapeutics Price Performance

The company has a market cap of $1.12 billion, a PE ratio of -12.11 and a beta of 1.02. The business’s fifty day simple moving average is $26.02 and its two-hundred day simple moving average is $24.26.

Insider Activity

In related news, CEO Samuel Kintz sold 12,206 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $27.51, for a total transaction of $335,787.06. Following the completion of the sale, the chief executive officer now owns 1,036,523 shares of the company’s stock, valued at approximately $28,514,747.73. This represents a 1.16 % decrease in their position. 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 4,250 shares of Enliven Therapeutics stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $24.27, for a total value of $103,147.50. The disclosure for this sale can be found here. Insiders have sold 129,195 shares of company stock worth $3,581,772 in the last quarter. Corporate insiders own 29.20% of the company’s stock.

Institutional Investors Weigh In On Enliven Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ELVN. FMR LLC boosted its holdings in Enliven Therapeutics by 10.6% in the third quarter. FMR LLC now owns 6,296,179 shares of the company’s stock valued at $160,804,000 after purchasing an additional 601,611 shares during the period. Janus Henderson Group PLC boosted its holdings in Enliven Therapeutics by 43.0% in the third quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company’s stock valued at $26,611,000 after purchasing an additional 313,019 shares in the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 67,813 shares during the last quarter. State Street Corp raised its holdings in Enliven Therapeutics by 2.9% during the third quarter. State Street Corp now owns 745,944 shares of the company’s stock worth $19,051,000 after purchasing an additional 21,018 shares in the last quarter. Finally, First Turn Management LLC lifted its position 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 acquiring an additional 121,849 shares during the last quarter. 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.