Enliven Therapeutics, Inc. (NASDAQ:ELVN) has reported a significant transaction by one of its top executives. Joseph P. Lyssikatos, the company’s Chief Scientific Officer, has sold 30,000 shares of common stock, according to the latest SEC filings. The transaction, executed on April 11, 2024, fetched a total of approximately $751,332, with individual share prices ranging from $25.00 to $25.67.
Lyssikatos, who also serves as a director at Enliven Therapeutics, carried out the sale under a pre-arranged trading plan known as Rule 10b5-1, which was adopted on June 26, 2023. Such plans allow company insiders to establish predetermined trading arrangements for selling stocks at a time when they are not in possession of material non-public information.
The weighted average sale price reported for the transaction was $25.0444 per share. The exact number of shares sold at each price within the range can be provided upon request by the SEC, the issuer, or a security holder of the issuer, as stated in the footnotes of the filing.
On the same day, Lyssikatos also exercised options to acquire 30,000 shares of Enliven Therapeutics' common stock at a price of $1.12 per share, amounting to a total transaction value of $33,600. These options are part of an early exercise provision and are immediately exercisable, with shares vesting in 48 equal monthly installments beginning on May 3, 2020.
Additionally, the SEC filing revealed that Lyssikatos indirectly owns 1,117,035 shares of Enliven Therapeutics common stock through The Lyssikatos Revocable Trust, for which he serves as trustee.
Enliven Therapeutics, Inc., with its headquarters located at 6200 Lookout Road in Boulder, Colorado, operates in the pharmaceutical preparations industry, focusing on developing innovative therapies. The company, previously known as Imara Inc., underwent a name change on April 19, 2016.
InvestingPro Insights
Enliven Therapeutics (NASDAQ:ELVN) has been navigating a complex financial landscape, as reflected in recent executive stock transactions and the company's performance metrics. The latest data from InvestingPro shows that Enliven Therapeutics holds a market capitalization of approximately $931.29 million. Despite a challenging profitability outlook, with a negative P/E ratio for the last twelve months as of Q4 2023 standing at -13.22, the company has demonstrated strong price performance in the short term. Indeed, the 1 Month Price Total Return as of April 2024 is an impressive 52.88%, alongside a robust 3 Month Price Total Return of 48.78%.
Two notable InvestingPro Tips for Enliven Therapeutics investors are that the company holds more cash than debt on its balance sheet and that its liquid assets exceed short term obligations. These indicators can be essential for investors assessing the company's financial health, especially in light of the recent insider stock sale by Chief Scientific Officer Joseph P. Lyssikatos. While the company has not been profitable over the last twelve months, these financial health indicators suggest a degree of stability in its balance sheet.
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