Enliven Therapeutics (NASDAQ:ELVN) Shares Down 2.9% – Here’s Why

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

Wall Street Analysts Forecast Growth

ELVN has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a report on Tuesday, October 1st. 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 on the stock. Finally, Robert W. Baird raised their target price 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 analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $38.25.

Enliven Therapeutics Trading Down 1.2 %

The company’s fifty day simple moving average is $25.92 and its 200 day simple moving average is $24.28. The stock has a market capitalization of $1.13 billion, a P/E ratio of -12.18 and a beta of 1.02.

Insider Activity at Enliven Therapeutics

In other news, CFO Benjamin Hohl sold 4,250 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $24.27, for a total value of $103,147.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph P. Lyssikatos sold 37,878 shares of Enliven Therapeutics stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $28.16, for a total transaction of $1,066,644.48. Following the sale, the insider now directly owns 1,016,035 shares of the company’s stock, valued at $28,611,545.60. This represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,195 shares of company stock valued at $3,581,772. Company insiders own 29.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Enliven Therapeutics by 10.6% in the 3rd quarter. FMR LLC now owns 6,296,179 shares of the company’s stock worth $160,804,000 after purchasing an additional 601,611 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Enliven Therapeutics by 43.0% during the 3rd quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company’s stock valued at $26,611,000 after buying an additional 313,019 shares in the last quarter. Geode Capital Management LLC boosted 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 worth $19,164,000 after buying an additional 67,813 shares in the last quarter. State Street Corp grew its position in Enliven Therapeutics by 2.9% during the third quarter. State Street Corp now owns 745,944 shares of the company’s stock valued at $19,051,000 after acquiring an additional 21,018 shares during the last quarter. Finally, First Turn Management LLC raised its stake in shares of Enliven Therapeutics by 29.5% during the third quarter. First Turn Management LLC now owns 535,092 shares of the company’s stock worth $13,666,000 after acquiring an additional 121,849 shares in the last quarter. 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.