Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Down – Should You Sell?

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price gapped down before the market opened on Friday. The stock had previously closed at $51.19, but opened at $48.22. Enliven Therapeutics shares last traded at $47.9240, with a volume of 7,297 shares traded.

Analyst Ratings Changes

ELVN has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enliven Therapeutics in a research report on Thursday, October 15th. JPMorgan Chase & Co. started coverage on Enliven Therapeutics in a report on Thursday, October 1st. They issued an “overweight” rating and a $75.00 price objective for the company. Mizuho increased their price objective on Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Zacks Research upgraded shares of Enliven Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, HC Wainwright lifted their target price on shares of Enliven Therapeutics from $65.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 19th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.44.

Enliven Therapeutics Stock Down 2.2%

The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -27.56 and a beta of 0.34. The stock has a fifty day moving average price of $46.65 and a 200-day moving average price of $43.56.

Enliven Therapeutics (NASDAQ:ELVN) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.09. As a group, research analysts expect that Enliven Therapeutics, Inc. will post -1.70 earnings per share for the current year.

Insider Buying and Selling at Enliven Therapeutics

In other news, Director J. Scott Garland sold 13,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $46.67, for a total value of $606,710.00. Following the completion of the sale, the director owned 13,000 shares in the company, valued at approximately $606,710. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Benjamin Hohl sold 6,018 shares of Enliven Therapeutics stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $38.48, for a total transaction of $231,572.64. Following the completion of the sale, the chief financial officer directly owned 38,000 shares in the company, valued at approximately $1,462,240. The trade was a 13.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,054 shares of company stock worth $1,493,823 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP acquired a new stake in shares of Enliven Therapeutics during the 3rd quarter valued at approximately $4,226,000. Voya Investment Management LLC boosted its stake in shares of Enliven Therapeutics by 50.2% during the 3rd quarter. Voya Investment Management LLC now owns 111,821 shares of the company’s stock worth $5,126,000 after acquiring an additional 37,368 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Enliven Therapeutics by 3.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 95,440 shares of the company’s stock worth $4,375,000 after acquiring an additional 3,502 shares in the last quarter. Three Bridge Wealth Advisors LLC acquired a new stake in shares of Enliven Therapeutics in the 3rd quarter worth approximately $53,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Enliven Therapeutics by 14.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,325,740 shares of the company’s stock worth $60,772,000 after acquiring an additional 163,956 shares during the period. 95.08% of the stock is owned by hedge funds and other institutional investors.

Enliven Therapeutics Company Profile

Enliven Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule medicines for cancer. Its research centers on precision oncology, with drug candidates designed to target specific proteins involved in tumor growth. The company’s pipeline has included ELVN-001, an investigational BCR-ABL1 inhibitor being studied for chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor developed for cancers driven by HER2. Enliven is based in Boulder, Colorado.