Enliven Therapeutics (NASDAQ:ELVN) Shares Down 3% Following Insider Selling

Enliven Therapeutics, Inc. (NASDAQ:ELVN) dropped 3% during trading on Thursday following insider selling activity. The company traded as low as $17.90 and last traded at $18.08. Approximately 11,209 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 135,877 shares. The stock had previously closed at $18.63.

Specifically, COO Anish Patel sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $15.00, for a total value of $165,000.00. Following the transaction, the chief operating officer now owns 22,097 shares of the company’s stock, valued at $331,455. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Anish Patel sold 11,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $15.00, for a total transaction of $165,000.00. Following the completion of the sale, the chief operating officer now directly owns 22,097 shares in the company, valued at approximately $331,455. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Benjamin Hohl sold 9,383 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $15.01, for a total value of $140,838.83. The disclosure for this sale can be found here. In the last three months, insiders sold 593,318 shares of company stock worth $8,983,658. 45.80% of the stock is owned by company insiders.

Enliven Therapeutics Stock Down 2.9 %

The stock’s 50-day simple moving average is $15.83 and its 200 day simple moving average is $13.84. The firm has a market cap of $745.31 million, a P/E ratio of -8.51 and a beta of 1.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Enliven Therapeutics by 4,476.0% during the second quarter. BlackRock Inc. now owns 1,546,475 shares of the company’s stock valued at $31,564,000 after buying an additional 1,512,680 shares during the period. Commodore Capital LP grew its position in shares of Enliven Therapeutics by 35.6% during the 2nd quarter. Commodore Capital LP now owns 2,348,272 shares of the company’s stock valued at $47,928,000 after purchasing an additional 616,907 shares in the last quarter. State Street Corp raised its stake in Enliven Therapeutics by 4,847.5% in the second quarter. State Street Corp now owns 466,251 shares of the company’s stock valued at $9,516,000 after purchasing an additional 456,827 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Enliven Therapeutics by 1,071.1% during the 2nd quarter. Geode Capital Management LLC now owns 414,444 shares of the company’s stock worth $8,459,000 after acquiring an additional 379,056 shares during the last quarter. Finally, Northern Trust Corp purchased a new position in shares of Enliven Therapeutics in the 2nd quarter worth about $3,999,000. Institutional investors own 95.08% of the company’s stock.

Enliven Therapeutics Company Profile

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.