Enliven Therapeutics (NASDAQ:ELVN) Shares Down 5% After Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price fell 5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $22.72 and last traded at $22.80. 263,570 shares were traded during trading, an increase of 2% from the average session volume of 257,230 shares. The stock had previously closed at $24.00.

Specifically, insider Joseph P. Lyssikatos sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $16.42, for a total value of $197,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Enliven Therapeutics news, insider Joseph P. Lyssikatos sold 12,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $16.42, for a total transaction of $197,040.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rishi Gupta sold 1,033,300 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $22.14, for a total transaction of $22,877,262.00. Following the completion of the transaction, the director now directly owns 254,814 shares of the company’s stock, valued at $5,641,581.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,291,913 shares of company stock worth $28,611,100. Company insiders own 29.20% of the company’s stock.

Analyst Ratings Changes

Separately, Mizuho initiated coverage on Enliven Therapeutics in a research note on Tuesday, April 9th. They set a “buy” rating and a $34.00 price target on the stock.

Enliven Therapeutics Stock Performance

The stock’s 50 day moving average is $18.93 and its two-hundred day moving average is $15.55.

Enliven Therapeutics (NASDAQ:ELVN) last released its earnings results on Thursday, March 14th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.09. On average, analysts predict that Enliven Therapeutics, Inc. will post -2.26 EPS for the current year.

Hedge Funds Weigh In On Enliven Therapeutics

Several institutional investors have recently modified their holdings of ELVN. SG Americas Securities LLC boosted its stake in Enliven Therapeutics by 17.8% in the 4th quarter. SG Americas Securities LLC now owns 13,501 shares of the company’s stock worth $187,000 after purchasing an additional 2,041 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Enliven Therapeutics during the fourth quarter worth about $66,000. AJOVista LLC bought a new position in shares of Enliven Therapeutics during the fourth quarter worth about $28,000. Mirae Asset Global Investments Co. Ltd. raised its position in Enliven Therapeutics by 9.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,305 shares of the company’s stock valued at $170,000 after buying an additional 1,029 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Enliven Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,708 shares of the company’s stock valued at $121,000 after acquiring an additional 2,208 shares in the last quarter. 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.