Enliven Therapeutics (NASDAQ:ELVN) Shares Down 4.9% Following Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price dropped 4.9% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $18.61 and last traded at $18.73. Approximately 40,658 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 275,231 shares. The stock had previously closed at $19.68.

Specifically, CFO Benjamin Hohl sold 3,250 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $21.33, for a total transaction of $69,322.50. Following the sale, the chief financial officer now owns 23,000 shares of the company’s stock, valued at $490,590. The trade was a 12.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. HC Wainwright raised their target price on shares of Enliven Therapeutics from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 21st. BTIG Research began coverage on Enliven Therapeutics in a research note on Friday, December 13th. They set 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $38.75.

Enliven Therapeutics Trading Down 4.1 %

The firm has a market capitalization of $925.20 million, a P/E ratio of -9.94 and a beta of 1.04. The business’s 50 day simple moving average is $21.18 and its two-hundred day simple moving average is $23.70.

Enliven Therapeutics (NASDAQ:ELVN) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.07. The firm had revenue of $0.03 million for the quarter. Analysts predict that Enliven Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Enliven Therapeutics by 10.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 255,277 shares of the company’s stock valued at $6,520,000 after buying an additional 24,043 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Enliven Therapeutics by 25.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,282 shares of the company’s stock valued at $441,000 after acquiring an additional 3,518 shares during the last quarter. FMR LLC grew its stake in shares of Enliven Therapeutics by 10.6% in the third quarter. FMR LLC now owns 6,296,179 shares of the company’s stock worth $160,804,000 after acquiring an additional 601,611 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Enliven Therapeutics by 12.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,168 shares of the company’s stock valued at $668,000 after purchasing an additional 2,944 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Enliven Therapeutics during the third quarter valued at approximately $2,539,000. Hedge funds and other institutional investors 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.