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Anish Patel, the Chief Operating Officer of Enliven Therapeutics, Inc. (NASDAQ:ELVN), a biotechnology company with a market capitalization of $1.06 billion, executed a series of stock transactions as reported in a recent SEC filing. On January 7, Patel sold a total of 28,367 shares of the company's common stock, generating proceeds of approximately $685,868. The sales occurred at prices ranging from $24.1525 to $24.6008 per share, notably above the current trading price of $21.74.
In addition to the sales, Patel exercised options to acquire a total of 21,700 shares at prices between $1.12 and $2.48 per share, with the total value of these acquisitions amounting to $39,264. Following these transactions, Patel's direct ownership of Enliven Therapeutics stock stands at zero shares. Some shares are held indirectly by The Patel / Dong Family Trust, where Patel serves as trustee. According to InvestingPro, the company maintains a strong financial health score, with liquid assets significantly exceeding short-term obligations.
These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on September 30, 2024. Despite recent insider sales, InvestingPro data shows analyst price targets ranging from $33 to $42, with the stock having delivered a remarkable 91% return over the past year. Subscribers can access additional insights and 6 more ProTips about ELVN's financial outlook.
In other recent news, Enliven Therapeutics has been the subject of several analyst reports. BTIG initiated coverage on the company, setting a Buy rating with a price target of $42, focusing on the firm's development of targeted tyrosine kinase inhibitors (TKIs) for cancer treatment. Clear Street also initiated coverage, assigning a Buy rating and a price target of $36, highlighting the company's potential in the chronic myeloid leukemia (CML) market.
Baird increased the company's stock price target to $40 following the release of promising trial data. Jones Trading also gave Enliven Therapeutics a Buy rating, predicting worldwide peak sales of approximately $800 million for the company's ELVN-001 drug by 2036.
Enliven Therapeutics is advancing two lead TKIs for both solid and liquid cancers. The company's ELVN-001 is a next-generation inhibitor targeting BCR-ABL, while ELVN-002 is recognized for its improved safety profile and ability to penetrate the central nervous system.
Key clinical data is expected to be released over the next 12-18 months, which analysts believe could lead to share growth. These are among the recent developments for Enliven Therapeutics.
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