Enliven Therapeutics (NASDAQ:ELVN) Shares Down 5.7% - Here's What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) was down 5.7% on Tuesday . The company traded as low as $21.88 and last traded at $21.70. Approximately 263,869 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 300,792 shares. The stock had previously closed at $23.00.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ELVN shares. Robert W. Baird boosted their price objective on shares of Enliven Therapeutics from $40.00 to $52.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. Jones Trading reduced their price objective on shares of Enliven Therapeutics from $36.00 to $27.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. The Goldman Sachs Group began coverage on shares of Enliven Therapeutics in a research note on Monday, June 16th. They issued a "buy" rating and a $37.00 target price on the stock. Finally, HC Wainwright raised their target price on shares of Enliven Therapeutics from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Enliven Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $41.20.

Enliven Therapeutics Price Performance

The business's fifty day simple moving average is $19.77 and its two-hundred day simple moving average is $20.26. The company has a market cap of $1.06 billion, a PE ratio of -11.27 and a beta of 0.83.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.57) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.06). As a group, analysts predict that Enliven Therapeutics, Inc. will post -1.95 EPS for the current year.

Insider Activity at Enliven Therapeutics

In related news, insider Joseph P. Lyssikatos sold 12,500 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $21.40, for a total transaction of $267,500.00. Following the sale, the insider directly owned 965,188 shares of the company's stock, valued at $20,655,023.20. This represents a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anish Patel sold 6,667 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $19.79, for a total transaction of $131,939.93. Following the completion of the sale, the chief operating officer directly owned 296,642 shares in the company, valued at approximately $5,870,545.18. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,111 shares of company stock valued at $1,973,876 over the last 90 days. Insiders own 25.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in Enliven Therapeutics by 61.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,752 shares of the company's stock valued at $4,167,000 after purchasing an additional 80,506 shares during the last quarter. Rhumbline Advisers raised its stake in Enliven Therapeutics by 4.9% during the 1st 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. Jane Street Group LLC acquired a new position in shares of Enliven Therapeutics in the first quarter valued at approximately $578,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Enliven Therapeutics by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,729 shares of the company's stock valued at $428,000 after purchasing an additional 1,693 shares during the period. Finally, Ally Bridge Group NY LLC lifted its holdings in shares of Enliven Therapeutics by 19.8% during the first 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 period. 95.08% of the stock is owned by hedge funds and other institutional investors.

About Enliven Therapeutics

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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