Enliven Therapeutics (NASDAQ:ELVN) Stock Price Down 4% on Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) was down 4% on Friday after an insider sold shares in the company. The company traded as low as $20.39 and last traded at $20.52. Approximately 326,731 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 292,952 shares. The stock had previously closed at $21.37.

Specifically, CEO Samuel Kintz sold 7,500 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $20.05, for a total transaction of $150,375.00. Following the completion of the sale, the chief executive officer now owns 965,392 shares in the company, valued at approximately $19,356,109.60. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph P. Lyssikatos sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $20.03, for a total value of $150,225.00. Following the completion of the sale, the insider now directly owns 977,688 shares of the company's stock, valued at $19,583,090.64. The trade was a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research firms have issued reports on ELVN. HC Wainwright boosted their price objective on shares of Enliven Therapeutics from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Jones Trading lowered their price objective on Enliven Therapeutics from $36.00 to $27.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $37.25.

Enliven Therapeutics Trading Down 1.9%

The stock's fifty day moving average price is $18.05 and its two-hundred day moving average price is $20.85. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -10.83 and a beta of 1.07.

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

Hedge Funds Weigh In On Enliven Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its holdings in Enliven Therapeutics by 230.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,598 shares of the company's stock worth $36,000 after purchasing an additional 1,114 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Enliven Therapeutics by 3,058.1% in the 1st quarter. GAMMA Investing LLC now owns 2,716 shares of the company's stock worth $53,000 after acquiring an additional 2,630 shares during the period. Quantbot Technologies LP purchased a new position in Enliven Therapeutics in the first quarter valued at about $60,000. KLP Kapitalforvaltning AS bought a new stake in shares of Enliven Therapeutics in the 4th quarter worth about $97,000. Finally, BNP Paribas Financial Markets bought a new position in Enliven Therapeutics during the fourth quarter worth $112,000. Hedge funds and other institutional investors own 95.08% of the company's stock.

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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