Enliven Therapeutics (NASDAQ:ELVN) Shares Down 3% – Time to Sell?

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price dropped 3% during trading on Friday . The company traded as low as $24.40 and last traded at $24.65. Approximately 29,557 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 257,265 shares. The stock had previously closed at $25.41.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ELVN. Robert W. Baird increased their target price on Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and issued a $37.00 target price on shares of Enliven Therapeutics in a research report on Tuesday, October 1st.

Enliven Therapeutics Price Performance

The stock has a market capitalization of $1.19 billion, a PE ratio of -12.83 and a beta of 1.08. The company’s 50 day moving average price is $26.78 and its two-hundred day moving average price is $24.13.

Insider Transactions at Enliven Therapeutics

In related news, insider Joseph P. Lyssikatos sold 847 shares of the business’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 sale, the insider now directly owns 1,015,188 shares of the company’s stock, valued at $30,455,640. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samuel Kintz sold 924 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.00, for a total transaction of $27,720.00. Following the completion of the transaction, the chief executive officer now owns 1,002,892 shares of the company’s stock, valued at $30,086,760. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,945 shares of company stock worth $3,451,099. 29.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC grew its position in shares of Enliven Therapeutics by 87.3% during the second quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock worth $37,000 after acquiring an additional 742 shares during the last quarter. China Universal Asset Management Co. Ltd. grew 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 during the last quarter. SG Americas Securities LLC acquired a new position in Enliven Therapeutics in the third quarter valued at $256,000. Verition Fund Management LLC purchased a new stake in shares of Enliven Therapeutics in the third quarter valued at about $271,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Enliven Therapeutics in the second quarter valued at about $322,000. Institutional investors and hedge funds own 95.08% of the company’s stock.

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.