Enliven Therapeutics (NASDAQ:ELVN) Shares Down 6.7% – Time to Sell?

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) fell 6.7% on Monday . The stock traded as low as $43.57 and last traded at $43.0510. 1,222,453 shares were traded during mid-day trading, an increase of 2% from the average session volume of 1,202,457 shares. The stock had previously closed at $46.13.

Wall Street Analysts Forecast Growth

ELVN has been the topic of several recent analyst reports. Guggenheim initiated coverage on shares of Enliven Therapeutics in a research report on Tuesday, May 12th. They set a “buy” rating and a $80.00 price objective on the stock. Wall Street Zen raised shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Mizuho raised their target price on shares of Enliven Therapeutics from $45.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. HC Wainwright lifted their price target on shares of Enliven Therapeutics from $48.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enliven Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Enliven Therapeutics Stock Performance

The firm has a fifty day simple moving average of $41.47 and a two-hundred day simple moving average of $30.79. The firm has a market cap of $2.57 billion, a PE ratio of -25.28 and a beta of 0.29.

Enliven Therapeutics (NASDAQ:ELVN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.06. Equities analysts forecast that Enliven Therapeutics, Inc. will post -1.71 EPS for the current fiscal year.

Insider Transactions at Enliven Therapeutics

In related news, Director Lori Anne Kunkel sold 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $34.54, for a total transaction of $345,400.00. Following the sale, the director owned 51,884 shares of the company’s stock, valued at $1,792,073.36. This represents a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Enliven Therapeutics

Hedge funds have recently made changes to their positions in the business. KBC Group NV bought a new position in shares of Enliven Therapeutics in the 1st quarter valued at about $38,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Enliven Therapeutics by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company’s stock worth $44,000 after acquiring an additional 594 shares during the last quarter. BNP Paribas Financial Markets raised its position in Enliven Therapeutics by 33.3% during the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after purchasing an additional 930 shares during the period. Quantbot Technologies LP raised its position in Enliven Therapeutics by 47.1% during the second quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock valued at $90,000 after purchasing an additional 1,434 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Enliven Therapeutics by 194.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the company’s stock valued at $106,000 after purchasing an additional 3,490 shares during the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Enliven Therapeutics Company Profile

Enliven Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapies that harness induced proximity mechanisms to selectively target and degrade disease-causing proteins in cancer. Leveraging its proprietary Induced Proximity platform, the company designs molecular glues and related modalities to recruit endogenous cellular machinery for targeted protein degradation, with the goal of treating malignancies driven by so-called “undruggable” oncogenic factors.

The company’s pipeline comprises several early-stage programs directed at key oncogenic drivers across hematologic and solid tumor indications.