Enliven Therapeutics (NASDAQ:ELVN) Shares Down 5.6% on Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price traded down 5.6% on Thursday following insider selling activity. The stock traded as low as $26.58 and last traded at $26.63. 147,687 shares changed hands during trading, a decline of 44% from the average session volume of 261,680 shares. The stock had previously closed at $28.21.

Specifically, Director Rahul D. Ballal sold 10,420 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $28.17, for a total value of $293,531.40. Following the completion of the sale, the director now directly owns 22,341 shares in the company, valued at approximately $629,345.97. This trade represents a 0.00 % 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, CEO Samuel Kintz sold 16,710 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $28.15, for a total transaction of $470,386.50. Following the transaction, the chief executive officer now directly owns 1,003,816 shares in the company, valued at $28,257,420.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In related news, insider Joseph P. Lyssikatos sold 37,878 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $28.16, for a total value of $1,066,644.48. Following the transaction, the insider now directly owns 1,016,035 shares in the company, valued at $28,611,545.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $37.00 price target on shares of Enliven Therapeutics in a report on Tuesday, October 1st.

Enliven Therapeutics Stock Performance

The stock has a market cap of $1.32 billion, a P/E ratio of -14.46 and a beta of 1.10. The business has a 50 day simple moving average of $23.34 and a 200-day simple moving average of $22.22.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.17. On average, sell-side analysts predict that Enliven Therapeutics, Inc. will post -1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enliven Therapeutics

A number of large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its position in Enliven Therapeutics by 67.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,952 shares of the company’s stock worth $140,000 after buying an additional 3,189 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Enliven Therapeutics in the first quarter valued at approximately $167,000. Baker BROS. Advisors LP bought a new stake in shares of Enliven Therapeutics in the 1st quarter worth approximately $2,020,000. Blackstone Inc. bought a new position in Enliven Therapeutics in the first quarter worth about $443,000. Finally, Janus Henderson Group PLC lifted its holdings in Enliven Therapeutics by 74.8% in the first quarter. Janus Henderson Group PLC now owns 713,911 shares of the company’s stock worth $12,604,000 after buying an additional 305,397 shares during the period. 95.08% of the stock is currently owned by 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.