Enliven Therapeutics (NASDAQ:ELVN) Trading Down 5.6% After Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price dropped 5.6% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $26.58 and last traded at $26.63. Approximately 147,687 shares were traded during trading, a decline of 44% from the average daily volume of 261,680 shares. The stock had previously closed at $28.21.

Specifically, Director Rahul D. Ballal sold 10,420 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $28.17, for a total transaction of $293,531.40. Following the transaction, the director now owns 22,341 shares in the company, valued at $629,345.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Samuel Kintz sold 16,710 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $28.15, for a total transaction of $470,386.50. Following the transaction, the chief executive officer now owns 1,003,816 shares in the company, valued at approximately $28,257,420.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other Enliven Therapeutics news, insider Joseph P. Lyssikatos sold 37,878 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $28.16, for a total transaction of $1,066,644.48. Following the transaction, the insider now owns 1,016,035 shares in the company, valued at $28,611,545.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a research report on Tuesday, October 1st.

Enliven Therapeutics Trading Up 3.5 %

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -14.46 and a beta of 1.10. The company’s 50-day moving average is $23.34 and its 200-day moving average is $22.22.

Enliven Therapeutics (NASDAQ:ELVN) last issued its earnings results on Tuesday, August 13th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.17. Equities research analysts forecast that Enliven Therapeutics, Inc. will post -1.98 EPS for the current year.

Institutional Trading of Enliven Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ELVN. Quest Partners LLC boosted its position in Enliven Therapeutics by 87.3% in the second quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock valued at $37,000 after buying an additional 742 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Enliven Therapeutics by 67.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 7,952 shares of the company’s stock valued at $140,000 after acquiring an additional 3,189 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Enliven Therapeutics during the first quarter valued at $167,000. SG Americas Securities LLC bought a new position in shares of Enliven Therapeutics during the third quarter valued at $256,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Enliven Therapeutics during the second quarter valued at $322,000. Institutional investors and hedge funds 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.