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

Enliven Therapeutics, Inc. (NASDAQ:ELVN) fell 2.9% on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

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

Enliven Therapeutics Price Performance

The company has a 50 day moving average of $25.92 and a two-hundred day moving average of $24.28. The company has a market capitalization of $1.13 billion, a PE ratio of -12.18 and a beta of 1.02.

Insider Transactions at Enliven Therapeutics

In related news, insider Joseph P. Lyssikatos sold 37,878 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,016,035 shares of the company’s stock, valued at $28,611,545.60. This trade represents a 3.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Benjamin Hohl sold 5,250 shares of Enliven Therapeutics stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $24.89, for a total value of $130,672.50. The disclosure for this sale can be found here. Insiders have sold 129,195 shares of company stock valued at $3,581,772 in the last three months. 29.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ELVN. Lord Abbett & CO. LLC bought a new position in Enliven Therapeutics in the 3rd quarter worth about $8,199,000. Franklin Resources Inc. purchased a new position in Enliven Therapeutics in the third quarter worth about $559,000. Barclays PLC lifted its stake in shares of Enliven Therapeutics by 295.8% in the third quarter. Barclays PLC now owns 56,217 shares of the company’s stock worth $1,435,000 after buying an additional 42,012 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enliven Therapeutics by 9.9% during the third quarter. Geode Capital Management LLC now owns 750,208 shares of the company’s stock valued at $19,164,000 after buying an additional 67,813 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Enliven Therapeutics by 107.0% during the third quarter. Wellington Management Group LLP now owns 70,170 shares of the company’s stock valued at $1,792,000 after acquiring an additional 36,267 shares in the last quarter. 95.08% of the stock is currently owned by institutional investors.

Enliven Therapeutics Company Profile

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.