Enliven Therapeutics (NASDAQ:ELVN) Stock Falls 4.5% After Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price fell 4.5% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $43.20 and last traded at $43.4350. 62,397 shares changed hands during trading, a decline of 95% from the average session volume of 1,251,624 shares. The stock had previously closed at $45.47.

Specifically, Director J. Scott Garland sold 13,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $46.67, for a total transaction of $606,710.00. Following the completion of the transaction, the director directly owned 13,000 shares in the company, valued at $606,710. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ELVN shares. JonesTrading boosted their target price on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, June 29th. The Goldman Sachs Group lifted their price target on shares of Enliven Therapeutics from $67.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Friday, July 17th. Mizuho boosted their price target on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. Finally, HC Wainwright upped their price objective on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.44.

Enliven Therapeutics Stock Down 2.4%

The stock has a fifty day moving average of $54.63 and a 200-day moving average of $47.70. The firm has a market capitalization of $3.03 billion, a P/E ratio of -24.77 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). As a group, analysts forecast that Enliven Therapeutics, Inc. will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Enliven Therapeutics

A number of large investors have recently modified their holdings of ELVN. BlackRock Inc. acquired a new stake in shares of Enliven Therapeutics in the second quarter valued at approximately $221,255,000. First Light Asset Management LLC boosted its position in Enliven Therapeutics by 574.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company’s stock valued at $69,058,000 after buying an additional 1,158,883 shares during the last quarter. Polar Capital Holdings Plc increased its stake in shares of Enliven Therapeutics by 13.5% in the 4th quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company’s stock valued at $54,111,000 after buying an additional 418,673 shares during the period. Rock Springs Capital Management LP raised its position in shares of Enliven Therapeutics by 3.5% during the first quarter. Rock Springs Capital Management LP now owns 826,500 shares of the company’s stock worth $32,399,000 after acquiring an additional 28,095 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new position in shares of Enliven Therapeutics during the second quarter valued at $30,617,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc (NASDAQ: ELVN) is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company seeks to develop therapies designed to address significant unmet needs in oncology, with an emphasis on targeted treatments that may offer improved efficacy, safety, or durability.

Enliven’s pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for patients with chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for the treatment of HER2-driven cancers.