Enliven Therapeutics (NASDAQ:ELVN) Shares Down 4.2% - What's Next?

Key Points

• Enliven Therapeutics shares fell by 4.2% to close at $19.13, with a notable decrease in trading volume, showing a 72% drop from the average daily volume.
• Several analysts, including HC Wainwright and Robert W. Baird, adjusted their price targets for the stock upwards, indicating a consensus "Buy" rating with an average price target of $41.20.
• Insider trading activity included CEO Samuel Kintz selling over 10,000 shares, which may signal potential concerns regarding company performance or market conditions.

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report)'s share price dropped 4.2% during trading on Monday . The stock traded as low as $19.20 and last traded at $19.13. Approximately 105,106 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 378,351 shares. The stock had previously closed at $19.96.

Wall Street Analyst Weigh In

ELVN has been the topic of several research analyst reports. HC Wainwright upped their price objective on Enliven Therapeutics from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group initiated coverage on Enliven Therapeutics in a research note on Monday, June 16th. They issued a "buy" rating and a $37.00 price objective on the stock. Finally, Robert W. Baird upped their price objective on Enliven Therapeutics from $40.00 to $52.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $41.20.

Enliven Therapeutics Stock Down 7.3%

The firm has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $19.70. The stock has a market cap of $1.10 billion, a PE ratio of -9.25 and a beta of 0.88.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($0.49) earnings per share for the quarter, topping analysts' consensus estimates of ($0.53) by $0.04. On average, research analysts expect that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Samuel Kintz sold 10,393 shares of Enliven Therapeutics stock in a transaction on Monday, August 18th. The stock was sold at an average price of $20.02, for a total transaction of $208,067.86. Following the completion of the sale, the chief executive officer owned 929,999 shares of the company's stock, valued at approximately $18,618,579.98. This trade represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Benjamin Hohl sold 3,250 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $20.63, for a total value of $67,047.50. Following the completion of the transaction, the chief financial officer owned 23,000 shares in the company, valued at $474,490. This represents a 12.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,234 shares of company stock worth $2,185,564. 25.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enliven Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. bought a new stake in Enliven Therapeutics during the fourth quarter valued at approximately $789,000. Rhumbline Advisers increased its stake in Enliven Therapeutics by 4.9% in the first quarter. Rhumbline Advisers now owns 52,502 shares of the company's stock valued at $1,033,000 after acquiring an additional 2,466 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Enliven Therapeutics by 67.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,714 shares of the company's stock valued at $984,000 after acquiring an additional 17,546 shares during the last quarter. Millennium Management LLC increased its stake in Enliven Therapeutics by 108.6% in the fourth quarter. Millennium Management LLC now owns 50,804 shares of the company's stock valued at $1,143,000 after acquiring an additional 26,449 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Enliven Therapeutics in the fourth quarter valued at $112,000. 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.

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