Enliven Therapeutics (NASDAQ:ELVN) Stock Price Down 3% – Here’s Why

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price fell 3% during mid-day trading on Friday . The stock traded as low as $24.40 and last traded at $24.65. 29,557 shares changed hands during trading, a decline of 89% from the average session volume of 257,265 shares. The stock had previously closed at $25.41.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELVN. HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a research report on Tuesday, October 1st. Robert W. Baird lifted their target price on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 15th.

Enliven Therapeutics Stock Performance

The firm’s 50 day simple moving average is $26.76 and its 200 day simple moving average is $24.13.

Insider Buying and Selling

In related news, CFO Benjamin Hohl sold 4,250 shares of Enliven Therapeutics stock in a transaction on Friday, September 27th. The shares were sold at an average price of $24.27, for a total value of $103,147.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph P. Lyssikatos sold 7,522 shares of Enliven Therapeutics stock in a transaction on Friday, October 4th. The stock was sold at an average price of $27.51, for a total transaction of $206,930.22. Following the completion of the transaction, the insider now directly owns 1,069,887 shares in the company, valued at approximately $29,432,591.37. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,945 shares of company stock valued at $3,451,099 over the last three months. 29.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC increased its position in Enliven Therapeutics by 87.3% during the 2nd quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock valued at $37,000 after purchasing an additional 742 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Enliven Therapeutics by 64.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock valued at $232,000 after purchasing an additional 3,559 shares during the period. SG Americas Securities LLC purchased a new position in Enliven Therapeutics during the 3rd quarter valued at $256,000. Verition Fund Management LLC purchased a new position in Enliven Therapeutics during the 3rd quarter valued at $271,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Enliven Therapeutics during the 2nd quarter valued at $322,000. 95.08% of the stock is owned by hedge funds and other institutional investors.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial in adults with solid tumors with HER2 alterations.