Enliven Therapeutics (NASDAQ:ELVN) Trading Down 7% – Should You Sell?

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) traded down 7% on Thursday . The stock traded as low as $22.40 and last traded at $22.40. 61,547 shares were traded during mid-day trading, a decline of 76% from the average session volume of 253,275 shares. The stock had previously closed at $24.08.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Enliven Therapeutics in a report on Tuesday, October 1st. Finally, BTIG Research began coverage on Enliven Therapeutics in a report on Friday. They set a “buy” rating and a $42.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $38.25.

Enliven Therapeutics Stock Up 0.7 %

The business has a fifty day simple moving average of $26.65 and a 200 day simple moving average of $24.16. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -12.18 and a beta of 1.02.

Insider Buying and Selling at Enliven Therapeutics

In other news, CFO Benjamin Hohl sold 5,250 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $24.89, for a total value of $130,672.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph P. Lyssikatos sold 847 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.00, for a total value of $25,410.00. Following the completion of the transaction, the insider now owns 1,015,188 shares of the company’s stock, valued at approximately $30,455,640. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,195 shares of company stock valued at $3,581,772. 29.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ELVN. Quest Partners LLC increased its position in shares of Enliven Therapeutics by 87.3% in the second quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock valued at $37,000 after buying an additional 742 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Enliven Therapeutics by 64.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock worth $232,000 after purchasing an additional 3,559 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Enliven Therapeutics during the 3rd quarter worth about $256,000. Verition Fund Management LLC purchased a new stake in Enliven Therapeutics during the 3rd quarter worth about $271,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Enliven Therapeutics during the 2nd quarter worth about $322,000. 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.