Enliven Therapeutics (NASDAQ:ELVN) Trading Down 7.8% – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares dropped 7.8% during mid-day trading on Tuesday . The stock traded as low as $21.12 and last traded at $20.70. Approximately 109,994 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 269,232 shares. The stock had previously closed at $22.46.

Analysts Set New Price Targets

ELVN has been the topic of a number of recent research reports. HC Wainwright raised their price objective on Enliven Therapeutics from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday. BTIG Research initiated coverage on Enliven Therapeutics in a research note on Friday, December 13th. They set a “buy” rating and a $42.00 price objective for the company. Four research 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 stock presently has an average rating of “Buy” and a consensus price target of $38.75.

Enliven Therapeutics Trading Down 5.1 %

The business has a fifty day moving average of $21.32 and a 200-day moving average of $23.79. The company has a market cap of $1.04 billion, a PE ratio of -11.22 and a beta of 1.04.

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

Insiders Place Their Bets

In other Enliven Therapeutics news, insider Joseph P. Lyssikatos sold 12,500 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $20.61, for a total value of $257,625.00. Following the completion of the transaction, the insider now owns 1,002,688 shares in the company, valued at approximately $20,665,399.68. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Benjamin Hohl sold 1,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $25.04, for a total value of $25,040.00. Following the transaction, the chief financial officer now directly owns 13,000 shares of the company’s stock, valued at $325,520. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,784 shares of company stock worth $1,610,375 over the last three months. Company insiders own 29.20% of the company’s stock.

Institutional Trading of Enliven Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ELVN. Wellington Management Group LLP boosted its stake in Enliven Therapeutics by 15.3% during the fourth quarter. Wellington Management Group LLP now owns 80,916 shares of the company’s stock worth $1,821,000 after acquiring an additional 10,746 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Enliven Therapeutics by 10.2% during the fourth quarter. California State Teachers Retirement System now owns 20,914 shares of the company’s stock valued at $471,000 after purchasing an additional 1,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Enliven Therapeutics by 67.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,714 shares of the company’s stock worth $984,000 after purchasing an additional 17,546 shares in the last quarter. Stempoint Capital LP purchased a new stake in shares of Enliven Therapeutics in the 4th quarter worth approximately $2,176,000. Finally, Polar Capital Holdings Plc grew its stake in shares of Enliven Therapeutics by 267.6% in the 4th 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 during the last quarter. 95.08% of the stock is owned by hedge funds and other 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.