Enliven Therapeutics (NASDAQ:ELVN) Trading Down 6.7% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

ELVN has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on Enliven Therapeutics from $41.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Mizuho raised their target price on Enliven Therapeutics from $45.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Guggenheim assumed coverage on shares of Enliven Therapeutics in a research note on Tuesday, May 12th. They issued a “buy” rating and a $80.00 price objective on the stock. Stifel Nicolaus began coverage on shares of Enliven Therapeutics in a research report on Tuesday, June 9th. They set a “buy” rating and a $60.00 target price for the company. Finally, Wall Street Zen raised shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Enliven Therapeutics Price Performance

The company has a 50-day moving average of $41.47 and a two-hundred day moving average of $30.79. The company has a market capitalization 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 results on Thursday, May 7th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. As a group, research analysts anticipate that Enliven Therapeutics, Inc. will post -1.71 EPS for the current year.

Insider Activity

In related news, Director Lori Anne Kunkel sold 10,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $34.54, for a total value of $345,400.00. Following the completion of the sale, the director directly owned 51,884 shares of the company’s stock, valued at approximately $1,792,073.36. This represents a 16.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Enliven Therapeutics by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company’s stock valued at $44,000 after purchasing an additional 594 shares during the period. Invesco Ltd. raised its holdings in Enliven Therapeutics by 4.3% during the second quarter. Invesco Ltd. now owns 21,957 shares of the company’s stock valued at $440,000 after acquiring an additional 913 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Enliven Therapeutics by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after acquiring an additional 930 shares in the last quarter. KBC Group NV purchased a new position in shares of Enliven Therapeutics in the first quarter valued at about $38,000. Finally, Swiss National Bank boosted its stake in shares of Enliven Therapeutics by 1.7% in the fourth quarter. Swiss National Bank now owns 64,273 shares of the company’s stock worth $990,000 after acquiring an additional 1,100 shares during the period. 95.08% of the stock is currently owned by 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.