Enliven Therapeutics (NASDAQ:ELVN) Shares Down 9.8% – Here’s Why

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price traded down 9.8% during mid-day trading on Friday . The company traded as low as $21.72 and last traded at $21.78. 104,222 shares were traded during mid-day trading, a decline of 33% from the average session volume of 156,391 shares. The stock had previously closed at $24.15.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $37.00 target price on shares of Enliven Therapeutics in a research note on Tuesday, October 1st. BTIG Research began coverage on Enliven Therapeutics in a research note on Friday, December 13th. They issued a “buy” rating and a $42.00 target price for the company. Finally, Robert W. Baird boosted their price target on Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $38.25.

Enliven Therapeutics Stock Down 10.4 %

The company has a market capitalization of $1.06 billion, a P/E ratio of -11.38 and a beta of 1.04. The business has a fifty day moving average price of $24.66 and a 200 day moving average price of $24.39.

Insider Activity

In related news, CFO Benjamin Hohl sold 6,250 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $28.56, for a total transaction of $178,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Samuel Kintz sold 924 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.00, for a total value of $27,720.00. Following the sale, the chief executive officer now owns 1,002,892 shares in the company, valued at $30,086,760. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,138 shares of company stock worth $587,355 over the last three months. Corporate insiders own 29.20% of the company’s stock.

Institutional Trading of Enliven Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its position 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 valued at $160,804,000 after purchasing an additional 601,611 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of 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 during the last quarter. Geode Capital Management LLC grew its position in shares of 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 grew its position in shares of Enliven Therapeutics by 2.9% in the third quarter. State Street Corp now owns 745,944 shares of the company’s stock valued at $19,051,000 after purchasing an additional 21,018 shares during the last quarter. Finally, First Turn Management LLC grew its position in shares of 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 purchasing an additional 121,849 shares during 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.