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

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price traded down 7.8% during trading on Tuesday . The company traded as low as $21.12 and last traded at $20.70. 109,994 shares traded hands during trading, a decline of 59% from the average session volume of 269,232 shares. The stock had previously closed at $22.46.

Analysts Set New Price Targets

ELVN has been the topic of several analyst reports. HC Wainwright increased their target price on Enliven Therapeutics from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 21st. BTIG Research initiated coverage on Enliven Therapeutics in a research note on Friday, December 13th. They issued a “buy” rating and a $42.00 price target for the company. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Enliven Therapeutics has an average rating of “Buy” and an average price target of $38.75.

Enliven Therapeutics Stock Up 4.5 %

The stock has a market capitalization of $1.05 billion, a P/E ratio of -11.32 and a beta of 1.04. The company has a fifty day simple moving average of $21.29 and a two-hundred day simple moving average of $23.76.

Enliven Therapeutics (NASDAQ:ELVN) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.07. The business had revenue of $0.03 million during the quarter. As a group, equities analysts forecast that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

Insider Transactions at Enliven Therapeutics

In other Enliven Therapeutics news, CFO Benjamin Hohl sold 1,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $25.04, for a total transaction of $25,040.00. Following the completion of the transaction, the chief financial officer now owns 13,000 shares in the company, valued at approximately $325,520. This represents a 7.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anish Patel sold 6,667 shares of Enliven Therapeutics stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $21.93, for a total value of $146,207.31. Following the completion of the sale, the chief operating officer now directly owns 329,977 shares in the company, valued at $7,236,395.61. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,784 shares of company stock valued at $1,632,875 over the last quarter. Corporate insiders own 29.20% of the company’s stock.

Institutional Investors Weigh In On Enliven Therapeutics

Several institutional investors have recently bought and sold shares of the company. Polar Capital Holdings Plc grew its position in Enliven Therapeutics by 267.6% in the fourth quarter. Polar Capital Holdings Plc now owns 2,389,668 shares of the company’s stock valued at $53,768,000 after purchasing an additional 1,739,668 shares in the last quarter. Boxer Capital Management LLC acquired a new position in shares of Enliven Therapeutics during the 4th quarter worth about $15,106,000. FMR LLC grew its holdings in shares of Enliven Therapeutics by 10.6% in the 3rd quarter. FMR LLC now owns 6,296,179 shares of the company’s stock valued at $160,804,000 after acquiring an additional 601,611 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Enliven Therapeutics in the 3rd quarter valued at about $8,199,000. Finally, Janus Henderson Group PLC increased its position in shares of Enliven Therapeutics by 43.0% in the third quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company’s stock valued at $26,611,000 after acquiring an additional 313,019 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

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.