Enliven Therapeutics (NASDAQ:ELVN) Trading Down 6.1% – Here’s What Happened

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) traded down 6.1% during mid-day trading on Tuesday . The company traded as low as $16.65 and last traded at $16.8450. 448,966 shares were traded during trading, a decline of 1% from the average session volume of 454,036 shares. The stock had previously closed at $17.93.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen raised shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Enliven Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Enliven Therapeutics Stock Down 7.6%

The stock has a market capitalization of $983.43 million, a PE ratio of -8.96 and a beta of 0.35. The stock’s 50 day moving average price is $20.35 and its 200-day moving average price is $20.35.

Enliven Therapeutics (NASDAQ:ELVN) last issued its earnings results on Thursday, November 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.11. On average, analysts forecast that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

Insider Buying and Selling at Enliven Therapeutics

In related news, CFO Benjamin Hohl sold 3,250 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $20.40, for a total transaction of $66,300.00. Following the completion of the sale, the chief financial officer owned 23,000 shares of the company’s stock, valued at $469,200. This represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Anish Patel sold 6,667 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $20.10, for a total transaction of $134,006.70. Following the sale, the chief operating officer directly owned 276,641 shares in the company, valued at approximately $5,560,484.10. This represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 80,947 shares of company stock valued at $1,706,091. 25.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enliven Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in Enliven Therapeutics by 61.3% during the first quarter. Goldman Sachs Group Inc. now owns 211,752 shares of the company’s stock valued at $4,167,000 after buying an additional 80,506 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in Enliven Therapeutics during the 2nd quarter worth about $8,024,000. Wellington Management Group LLP boosted its holdings in shares of Enliven Therapeutics by 4.7% during the first quarter. Wellington Management Group LLP now owns 84,700 shares of the company’s stock worth $1,667,000 after purchasing an additional 3,784 shares during the period. Ally Bridge Group NY LLC increased its position in Enliven Therapeutics by 19.8% in the 1st quarter. Ally Bridge Group NY LLC now owns 169,774 shares of the company’s stock worth $3,341,000 after purchasing an additional 28,064 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Enliven Therapeutics by 148,550.7% in the first quarter. Russell Investments Group Ltd. now owns 105,542 shares of the company’s stock valued at $2,077,000 after acquiring an additional 105,471 shares during the last quarter. 95.08% of the stock is currently owned by institutional investors and hedge funds.

About Enliven Therapeutics

Enliven Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapies that harness induced proximity mechanisms to selectively target and degrade disease-causing proteins in cancer. Leveraging its proprietary Induced Proximity platform, the company designs molecular glues and related modalities to recruit endogenous cellular machinery for targeted protein degradation, with the goal of treating malignancies driven by so-called “undruggable” oncogenic factors.

The company’s pipeline comprises several early-stage programs directed at key oncogenic drivers across hematologic and solid tumor indications.