Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Down – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) gapped down prior to trading on Thursday . The stock had previously closed at $22.05, but opened at $20.67. Enliven Therapeutics shares last traded at $22.00, with a volume of 15,207 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on ELVN shares. BTIG Research assumed coverage on shares of Enliven Therapeutics in a research report on Friday, December 13th. They set a “buy” rating and a $42.00 target price for the company. Robert W. Baird raised their price objective on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $38.25.

Enliven Therapeutics Trading Up 1.4 %

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -11.86 and a beta of 1.03. The firm’s 50 day moving average is $22.64 and its two-hundred day moving average is $24.15.

Insider Activity

In other news, COO Anish Patel sold 21,700 shares of Enliven Therapeutics stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $24.18, for a total value of $524,706.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Benjamin Hohl sold 5,250 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $24.89, for a total value of $130,672.50. The disclosure for this sale can be found here. Insiders sold a total of 43,117 shares of company stock valued at $1,013,775 over the last 90 days. Insiders own 29.20% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

Hedge funds have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of Enliven Therapeutics by 10.6% during the 3rd quarter. FMR LLC now owns 6,296,179 shares of the company’s stock worth $160,804,000 after buying an additional 601,611 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Enliven Therapeutics during the third quarter valued at about $8,199,000. Janus Henderson Group PLC increased its stake in Enliven Therapeutics by 43.0% during the third quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company’s stock worth $26,611,000 after acquiring an additional 313,019 shares during the last quarter. Ally Bridge Group NY LLC purchased a new position in shares of Enliven Therapeutics in the 3rd quarter worth about $5,998,000. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Enliven Therapeutics by 16.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 972,293 shares of the company’s stock valued at $21,877,000 after purchasing an additional 135,969 shares in the last quarter. Institutional investors and hedge funds own 95.08% of the company’s stock.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise 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 in adults with solid tumors with HER2 alterations.