Enliven Therapeutics, Inc. (NASDAQ:ELVN) COO Anish Patel has sold company stock valued at over $110,000, according to a recent SEC filing. The transactions, which occurred on May 6, 2024, involved the sale of 4,875 shares of common stock at a weighted average price of $22.7219, totaling approximately $110,769.
The filing also revealed that Patel acquired the same number of shares on the same day through option exercises priced at $2.48 per share, amounting to a total of $12,090. These transactions were executed under a Rule 10b5-1 trading plan, which Patel adopted on June 29, 2023.
The shares sold by Patel were held by The Patel / Dong Family Trust, for which he serves as trustee. Following the sale, the COO's direct holdings in the company were reduced to zero, as indicated in the filing. However, the trust continues to hold a substantial indirect position of 394,027 shares in Enliven Therapeutics.
Investors and followers of Enliven Therapeutics should note that the prices for Patel's stock transactions ranged from $22.295 to $22.9429. The executive has committed to providing full information regarding the number of shares sold at each separate price upon request by the SEC, the issuer, or a security holder of the issuer.
The option exercised by Patel was part of a larger grant originally for 75,620 shares that vests in 48 equal monthly installments starting from August 14, 2021. This suggests a planned and structured approach to Patel's investment decisions in the company.
Enliven Therapeutics is a pharmaceutical company specializing in the development of treatments for various conditions. The company, formerly known as IMARA (NASDAQ:ELVN) Inc., is incorporated in Delaware and has a fiscal year-end on December 31.
InvestingPro Insights
Enliven Therapeutics, Inc. (NASDAQ:ELVN) is currently under the spotlight not only due to its COO's recent stock transactions but also because of its intriguing financial position and market performance. According to InvestingPro data, Enliven Therapeutics holds a market capitalization of $1.15 billion USD. Despite the company not being profitable over the last twelve months, with a negative P/E ratio of -16.27, investors have witnessed a strong return on the stock with a 1-week price total return of 16.67% and a 6-month price total return of 112.03%.
InvestingPro Tips suggest that Enliven Therapeutics holds more cash than debt on its balance sheet, indicating a level of financial stability that may be reassuring to investors. Additionally, the stock is currently trading near its 52-week high, at 94.19% of this peak value, reflecting a significant investor confidence in the company's prospects. However, it's important to note that the stock's RSI suggests it is in overbought territory, which could signal a potential pullback or consolidation in the near future.
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