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

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) traded down 3% during trading on Friday . The company traded as low as $24.40 and last traded at $24.65. 29,557 shares traded hands during trading, a decline of 89% from the average session volume of 257,265 shares. The stock had previously closed at $25.41.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a report on Tuesday, October 1st. Robert W. Baird upped their price target on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th.

Enliven Therapeutics Stock Down 4.1 %

The company’s fifty day moving average is $26.76 and its 200-day moving average is $24.13.

Insider Buying and Selling

In other Enliven Therapeutics news, CFO Benjamin Hohl sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.56, for a total value of $178,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph P. Lyssikatos sold 7,522 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $27.51, for a total value of $206,930.22. Following the completion of the transaction, the insider now owns 1,069,887 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 123,945 shares of company stock valued at $3,451,099. 29.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELVN. Janus Henderson Group PLC boosted its stake in Enliven Therapeutics by 74.8% in the 1st quarter. Janus Henderson Group PLC now owns 713,911 shares of the company’s stock worth $12,604,000 after purchasing an additional 305,397 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Enliven Therapeutics by 49.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 114,109 shares of the company’s stock valued at $2,667,000 after acquiring an additional 37,632 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Enliven Therapeutics by 29.9% during the 2nd quarter. Rhumbline Advisers now owns 49,627 shares of the company’s stock valued at $1,160,000 after acquiring an additional 11,420 shares during the last quarter. Quest Partners LLC boosted its position in shares of 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 acquiring an additional 742 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Enliven Therapeutics by 44.7% during the 2nd quarter. American Century Companies Inc. now owns 27,651 shares of the company’s stock valued at $646,000 after acquiring an additional 8,540 shares during the last quarter. 95.08% of the stock is currently owned by institutional investors.

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.