Enliven Therapeutics (NASDAQ:ELVN) Trading Down 9.8% - Time to Sell?

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report)'s share price was down 9.8% on Friday . The stock traded as low as $21.72 and last traded at $21.78. Approximately 104,222 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 156,391 shares. The stock had previously closed at $24.15.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ELVN shares. HC Wainwright restated a "buy" rating and set a $37.00 price target on shares of Enliven Therapeutics in a research note on Tuesday, October 1st. Robert W. Baird raised their target price on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Finally, BTIG Research initiated coverage on shares of Enliven Therapeutics in a research report on Friday, December 13th. They issued a "buy" rating and a $42.00 price target for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $38.25.

Enliven Therapeutics Trading Down 10.0 %

The firm has a 50 day simple moving average of $24.54 and a two-hundred day simple moving average of $24.39. The company has a market capitalization of $1.06 billion, a PE ratio of -11.44 and a beta of 1.04.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, CEO Samuel Kintz sold 924 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.00, for a total value of $27,720.00. Following the completion of the transaction, the chief executive officer now owns 1,002,892 shares in the company, valued at approximately $30,086,760. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard A. Heyman sold 1,270 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $27.67, for a total transaction of $35,140.90. Following the transaction, the director now directly owns 124,490 shares in the company, valued at approximately $3,444,638.30. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,838 shares of company stock valued at $1,112,061. 29.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enliven Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its position in shares of Enliven Therapeutics by 10.6% in the third quarter. FMR LLC now owns 6,296,179 shares of the company's stock valued at $160,804,000 after purchasing an additional 601,611 shares during the last quarter. First Turn Management LLC purchased a new position in Enliven Therapeutics during the second quarter worth $9,657,000. Lord Abbett & CO. LLC purchased a new stake in Enliven Therapeutics during the 3rd quarter worth about $8,199,000. Janus Henderson Group PLC raised its stake in Enliven Therapeutics by 43.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company's stock valued at $26,611,000 after purchasing an additional 313,019 shares during the last quarter. Finally, Ally Bridge Group NY LLC purchased a new position in Enliven Therapeutics in the 3rd quarter valued at about $5,998,000. 95.08% of the stock is currently owned by hedge funds and other 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.