Enliven Therapeutics (NASDAQ:ELVN) Reaches New 12-Month Low Following Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price reached a new 52-week low on Wednesday following insider selling activity. The stock traded as low as $15.14 and last traded at $15.82, with a volume of 365172 shares changing hands. The stock had previously closed at $17.87.

Specifically, COO Anish Patel sold 6,667 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $18.04, for a total value of $120,272.68. Following the transaction, the chief operating officer now owns 316,643 shares in the company, valued at $5,712,239.72. The trade was a 2.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

Several research analysts have weighed in on ELVN shares. 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 on the stock. HC Wainwright lifted their price objective on shares of Enliven Therapeutics from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, March 21st.

Enliven Therapeutics Stock Performance

The firm has a fifty day moving average price of $20.42 and a 200 day moving average price of $23.34. The firm has a market capitalization of $730.65 million, a price-to-earnings ratio of -7.85 and a beta of 1.03.

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

Hedge Funds Weigh In On Enliven Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Enliven Therapeutics by 3.2% during the 4th quarter. FMR LLC now owns 6,495,871 shares of the company’s stock worth $146,157,000 after purchasing an additional 199,692 shares in the last quarter. Polar Capital Holdings Plc increased its position in Enliven Therapeutics by 267.6% during the fourth quarter. Polar Capital Holdings Plc now owns 2,389,668 shares of the company’s stock worth $53,768,000 after buying an additional 1,739,668 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Enliven Therapeutics by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 1,975,655 shares of the company’s stock valued at $44,452,000 after acquiring an additional 55,283 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Enliven Therapeutics by 27.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,331,877 shares of the company’s stock valued at $30,001,000 after acquiring an additional 290,153 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Enliven Therapeutics by 16.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 972,293 shares of the company’s stock valued at $21,877,000 after acquiring an additional 135,969 shares in the last quarter. 95.08% of the stock is currently 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.