Enliven Therapeutics (NASDAQ:ELVN) Shares Down 7.8% – Time to Sell?

Enliven Therapeutics, Inc. (NASDAQ:ELVN) dropped 7.8% during trading on Tuesday . The stock traded as low as $21.12 and last traded at $20.70. Approximately 109,994 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 269,232 shares. The stock had previously closed at $22.46.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELVN. HC Wainwright raised their target price on shares of Enliven Therapeutics from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 21st. BTIG Research started coverage on shares of Enliven Therapeutics in a research report on Friday, December 13th. They issued a “buy” rating and a $42.00 price objective for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enliven Therapeutics has a consensus rating of “Buy” and an average target price of $38.75.

Enliven Therapeutics Trading Up 4.5 %

The company has a 50 day moving average price of $21.29 and a 200 day moving average price of $23.76. The company has a market capitalization of $1.05 billion, a P/E ratio of -11.32 and a beta of 1.04.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.07. The company had revenue of $0.03 million for the quarter. As a group, sell-side analysts forecast that Enliven Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Anish Patel sold 21,700 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $24.18, for a total transaction of $524,706.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Benjamin Hohl sold 3,350 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $22.15, for a total value of $74,202.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,784 shares of company stock valued at $1,632,875. Company insiders own 29.20% of the company’s stock.

Institutional Trading of Enliven Therapeutics

Institutional investors have recently bought and sold shares of the business. Barclays PLC raised its position in shares of Enliven Therapeutics by 295.8% in the third quarter. Barclays PLC now owns 56,217 shares of the company’s stock valued at $1,435,000 after buying an additional 42,012 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Enliven Therapeutics by 9.9% in the third quarter. Geode Capital Management LLC now owns 750,208 shares of the company’s stock worth $19,164,000 after purchasing an additional 67,813 shares during the period. Ally Bridge Group NY LLC acquired a new position in Enliven Therapeutics in the third quarter valued at about $5,998,000. Patient Square Capital LP bought a new position in Enliven Therapeutics in the 3rd quarter valued at about $2,313,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Enliven Therapeutics by 10.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,277 shares of the company’s stock valued at $6,520,000 after buying an additional 24,043 shares during the period. Institutional investors own 95.08% of the company’s stock.

About Enliven Therapeutics

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.