Enliven Therapeutics (NASDAQ:ELVN) Trading Down 5.6% – Here’s Why

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price fell 5.6% during trading on Wednesday . The stock traded as low as $50.36 and last traded at $50.3710. Approximately 732,748 shares traded hands during trading, a decline of 40% from the average session volume of 1,219,042 shares. The stock had previously closed at $53.36.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELVN. The Goldman Sachs Group increased their price target on Enliven Therapeutics from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. HC Wainwright lifted their target price on Enliven Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. JonesTrading boosted their price target on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Wall Street Zen downgraded shares of Enliven Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Stifel Nicolaus raised their price objective on shares of Enliven Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.00.

Enliven Therapeutics Trading Up 2.3%

The stock has a 50-day moving average of $56.46 and a two-hundred day moving average of $46.03. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -30.08 and a beta of 0.30.

Enliven Therapeutics (NASDAQ:ELVN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.10). Sell-side analysts expect that Enliven Therapeutics, Inc. will post -1.69 EPS for the current fiscal year.

Insider Activity at Enliven Therapeutics

In related news, Director Mika Derynck sold 158,795 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.21, for a total value of $9,561,046.95. Following the completion of the transaction, the director owned 87,373 shares of the company’s stock, valued at approximately $5,260,728.33. This trade represents a 64.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of Enliven Therapeutics stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $58.58, for a total transaction of $352,534.44. Following the transaction, the chief financial officer owned 40,036 shares in the company, valued at approximately $2,345,308.88. The trade was a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 180,831 shares of company stock worth $10,735,269. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enliven Therapeutics

A number of institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC grew its stake in Enliven Therapeutics by 574.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company’s stock valued at $69,058,000 after acquiring an additional 1,158,883 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Enliven Therapeutics by 27.7% in the second quarter. Tidal Investments LLC now owns 60,694 shares of the company’s stock worth $3,080,000 after purchasing an additional 13,179 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Enliven Therapeutics during the second quarter worth approximately $228,000. Engineers Gate Manager LP purchased a new position in Enliven Therapeutics during the second quarter valued at approximately $1,479,000. Finally, Squarepoint Ops LLC purchased a new position in Enliven Therapeutics during the second quarter valued at approximately $259,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for the treatment of cancer. The company applies a precision oncology approach, seeking to create targeted therapies that may offer improved efficacy, safety, durability and convenience compared with existing treatments.

Enliven’s pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for patients with chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for the treatment of HER2-driven solid tumors.