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

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares were down 4.5% on Tuesday following insider selling activity. The stock traded as low as $43.20 and last traded at $43.4350. 62,397 shares were traded during trading, a decline of 95% from the average daily 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 transaction, the director owned 13,000 shares in the company, valued at $606,710. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ELVN. The Goldman Sachs Group boosted their target price on shares of Enliven Therapeutics from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Barclays started coverage on shares of Enliven Therapeutics in a research note on Tuesday, August 18th. They issued an “overweight” rating and a $78.00 price objective for the company. Guggenheim cut their price objective on shares of Enliven Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, August 6th. JonesTrading increased their target price on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Mizuho raised their target price on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Enliven Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.44.

Enliven Therapeutics Price Performance

The company’s 50-day moving average is $54.86 and its two-hundred day moving average is $47.62. The firm has a market cap of $3.11 billion, a P/E ratio of -25.38 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN) last released its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.10). On average, analysts expect that Enliven Therapeutics, Inc. will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Enliven Therapeutics during the second quarter worth $221,255,000. 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 purchasing an additional 418,673 shares during the last quarter. First Light Asset Management LLC raised its holdings in shares of Enliven Therapeutics by 574.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company’s stock worth $69,058,000 after buying an additional 1,158,883 shares in the last quarter. Rock Springs Capital Management LP raised its holdings in shares of Enliven Therapeutics by 3.5% during the 1st quarter. Rock Springs Capital Management LP now owns 826,500 shares of the company’s stock worth $32,399,000 after buying an additional 28,095 shares in the last quarter. Finally, Siren L.L.C. bought a new stake in shares of Enliven Therapeutics during the 1st quarter worth $29,252,000. 95.08% of the stock is owned by institutional investors.

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.