Enliven Therapeutics (NASDAQ:ELVN) Shares Down 2.7%

Enliven Therapeutics, Inc. (NASDAQ:ELVN) was down 2.7% during mid-day trading on Tuesday . The stock traded as low as $15.22 and last traded at $15.22. Approximately 4,367 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 137,039 shares. The stock had previously closed at $15.64.

Enliven Therapeutics Price Performance

The firm has a market cap of $609.02 million, a price-to-earnings ratio of 5.23 and a beta of 1.08. The firm’s 50 day moving average price is $17.25 and its two-hundred day moving average price is $19.39.

Enliven Therapeutics (NASDAQ:ELVN) last announced its earnings results on Thursday, August 10th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.01). On average, analysts anticipate that Enliven Therapeutics, Inc. will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder 5Am Partners Vi, Llc sold 440,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $16.00, for a total transaction of $7,040,000.00. Following the completion of the transaction, the insider now directly owns 887,507 shares of the company’s stock, valued at $14,200,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 45.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fairmount Funds Management LLC purchased a new position in shares of Enliven Therapeutics during the 1st quarter worth approximately $42,156,000. Logos Global Management LP purchased a new position in shares of Enliven Therapeutics during the 1st quarter worth approximately $8,787,000. Boxer Capital LLC purchased a new position in shares of Enliven Therapeutics during the 1st quarter worth approximately $15,563,000. Commodore Capital LP purchased a new position in shares of Enliven Therapeutics during the 1st quarter worth approximately $37,917,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Enliven Therapeutics during the 2nd quarter worth approximately $26,000. 95.08% of the stock is 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. Its pipeline of small molecule kinase inhibitors include 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 has been activated to evaluate people with cancers harboring an abnormal HER2 gene.