Enliven Therapeutics (NASDAQ:ELVN) Stock Price Down 8% Following Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN) dropped 8% on Monday after an insider sold shares in the company. The company traded as low as $24.50 and last traded at $23.9150. Approximately 71,215 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,503,471 shares. The stock had previously closed at $26.00.

Specifically, Director Richard A. Heyman sold 4,285 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $25.00, for a total transaction of $107,125.00. Following the transaction, the director owned 25,107 shares in the company, valued at $627,675. This represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard A. Heyman sold 9,635 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $25.03, for a total transaction of $241,164.05. Following the transaction, the director owned 25,545 shares of the company’s stock, valued at approximately $639,391.35. The trade was a 27.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other news, insider Joseph P. Lyssikatos sold 91,198 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $27.22, for a total transaction of $2,482,409.56. Following the completion of the transaction, the insider directly owned 765,188 shares of the company’s stock, valued at approximately $20,828,417.36. This trade represents a 10.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

ELVN has been the subject of a number of research reports. Wall Street Zen raised shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Enliven Therapeutics Stock Up 1.2%

The firm has a 50 day moving average of $19.46 and a two-hundred day moving average of $20.05. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -14.16 and a beta of 0.41.

Enliven Therapeutics (NASDAQ:ELVN) last posted its earnings results on Thursday, November 13th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.11. Sell-side analysts forecast that Enliven Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

Institutional Trading of Enliven Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELVN. BNP Paribas Financial Markets increased its stake in shares of Enliven Therapeutics by 33.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock worth $75,000 after purchasing an additional 930 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Enliven Therapeutics by 47.1% in the second quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock worth $90,000 after purchasing an additional 1,434 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Enliven Therapeutics during the 3rd quarter worth $96,000. Tower Research Capital LLC TRC raised its holdings in shares of Enliven Therapeutics by 194.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the company’s stock valued at $106,000 after buying an additional 3,490 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in Enliven Therapeutics by 58.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,800 shares of the company’s stock valued at $136,000 after acquiring an additional 2,500 shares during the period. 95.08% of the stock is owned by institutional investors.

About Enliven Therapeutics

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.