Enliven Therapeutics (NASDAQ:ELVN) Stock Falls 4.5% Following Insider Selling

Key Points

• Enliven Therapeutics shares fell 4.5% to about $43.44 after director J. Scott Garland sold 13,000 shares worth approximately $606,710, reducing his direct ownership by 50%. Trading volume was 95% below the average.
• Analyst sentiment remains broadly positive: ten analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $74.44.
• The clinical-stage biotech recently missed quarterly earnings expectations, reporting a loss of $0.49 per share versus the expected $0.39 loss. Institutional investors own approximately 95.08% of the company.

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) shares fell 4.5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $43.20 and last traded at $43.4350. 62,397 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 1,251,624 shares. The stock had previously closed at $45.47.

Specifically, Director J. Scott Garland sold 13,000 shares of Enliven Therapeutics stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $46.67, for a total transaction of $606,710.00. Following the completion of the sale, the director directly owned 13,000 shares in the company, valued at approximately $606,710. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELVN. Weiss Ratings reissued a "sell (d-)" rating on shares of Enliven Therapeutics in a research note on Friday, July 17th. The Goldman Sachs Group upped their target price on Enliven Therapeutics from $67.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Guggenheim cut their price target on Enliven Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Stifel Nicolaus lifted their price objective on Enliven Therapeutics from $80.00 to $82.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Morgan Stanley assumed coverage on shares of Enliven Therapeutics in a research note on Friday. They issued an "overweight" rating and a $70.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Enliven Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $74.44.

Enliven Therapeutics Price Performance

The business has a 50-day moving average of $55.09 and a two-hundred day moving average of $47.51. The company has a market cap of $3.05 billion, a P/E ratio of -25.16 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.10). Equities analysts anticipate that Enliven Therapeutics, Inc. will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Enliven Therapeutics

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Enliven Therapeutics during the second quarter worth $221,255,000. First Light Asset Management LLC raised its stake in Enliven Therapeutics by 574.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company's stock worth $69,058,000 after acquiring an additional 1,158,883 shares during the last quarter. Siren L.L.C. acquired a new stake in Enliven Therapeutics during the 1st quarter worth about $29,252,000. Jupiter Topco LLC purchased a new stake in Enliven Therapeutics during the 2nd quarter valued at about $30,617,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Enliven Therapeutics in the first quarter valued at about $23,007,000. Hedge funds and other institutional investors own 95.08% of the company's stock.

About Enliven Therapeutics

Enliven Therapeutics, Inc NASDAQ: ELVN is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company seeks to develop therapies designed to address significant unmet needs in oncology, with an emphasis on targeted treatments that may offer improved efficacy, safety, or durability.

Enliven's pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for patients with chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for the treatment of HER2-driven cancers.

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