Why Did Enliven Therapeutics Drop 3.75%?

On April 8, 2025, Enliven Therapeutics, Inc. (ELVN) experienced a significant drop of 3.75% in pre-market trading, reflecting a notable shift in investor sentiment towards the biopharmaceutical company.

HC Wainwright, a prominent investment bank, recently revised its price target for Enliven Therapeutics, increasing it from $37.00 to $39.00 and maintaining a "buy" rating. This adjustment suggests a positive outlook on the company's future prospects, potentially driven by recent developments or strategic initiatives.

Benjamin Hohl, the Chief Financial Officer of Enliven Therapeutics, sold 11,870 shares of the company's stock on January 3, 2025. This transaction, while routine for executives, can sometimes influence market perceptions and investor confidence, contributing to the recent price fluctuations.