Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Down – What’s Next?

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) gapped down before the market opened on Friday. The stock had previously closed at $51.19, but opened at $48.22. Enliven Therapeutics shares last traded at $47.9240, with a volume of 7,297 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Zacks Research raised shares of Enliven Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. began coverage on shares of Enliven Therapeutics in a report on Thursday, October 1st. They set an “overweight” rating and a $75.00 price target for the company. Guggenheim reiterated a “buy” rating and set a $78.00 price target on shares of Enliven Therapeutics in a report on Friday, November 6th. HC Wainwright increased their price objective on shares of Enliven Therapeutics from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 19th. Finally, Mizuho raised their price objective on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.44.

Enliven Therapeutics Trading Down 2.2%

The stock has a fifty day simple moving average of $46.65 and a 200-day simple moving average of $43.56. The company has a market capitalization of $3.48 billion, a PE ratio of -27.56 and a beta of 0.34.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09. As a group, equities research analysts predict that Enliven Therapeutics, Inc. will post -1.70 EPS for the current year.

Insider Activity at Enliven Therapeutics

In other Enliven Therapeutics news, Director J. Scott Garland sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $46.67, for a total transaction of $606,710.00. Following the sale, the director owned 13,000 shares of the company’s stock, 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. Also, CFO Benjamin Hohl sold 6,018 shares of the business’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $38.48, for a total transaction of $231,572.64. Following the sale, the chief financial officer owned 38,000 shares of the company’s stock, valued at $1,462,240. This represents a 13.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,054 shares of company stock worth $1,493,823 over the last quarter. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enliven Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP acquired a new position in Enliven Therapeutics in the third quarter valued at $4,226,000. Voya Investment Management LLC grew its holdings in shares of Enliven Therapeutics by 50.2% during the third quarter. Voya Investment Management LLC now owns 111,821 shares of the company’s stock worth $5,126,000 after purchasing an additional 37,368 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Enliven Therapeutics by 3.8% during the third quarter. Russell Investments Group Ltd. now owns 95,440 shares of the company’s stock worth $4,375,000 after purchasing an additional 3,502 shares during the last quarter. Three Bridge Wealth Advisors LLC acquired a new stake in shares of Enliven Therapeutics during the third quarter worth about $53,000. Finally, Pictet Asset Management Holding SA increased its position in shares of Enliven Therapeutics by 14.1% during the third quarter. Pictet Asset Management Holding SA now owns 1,325,740 shares of the company’s stock worth $60,772,000 after purchasing an additional 163,956 shares in the last quarter. 95.08% of the stock is 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 medicines for cancer. Its research centers on precision oncology, with drug candidates designed to target specific proteins involved in tumor growth. The company’s pipeline has included ELVN-001, an investigational BCR-ABL1 inhibitor being studied for chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor developed for cancers driven by HER2. Enliven is based in Boulder, Colorado.