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

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

Several brokerages recently commented on ELVN. Robert W. Baird raised their target price on Enliven Therapeutics from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. BTIG Research began coverage on Enliven Therapeutics in a research report on Friday, December 13th. They issued a “buy” rating and a $42.00 target price for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $38.25.

Enliven Therapeutics Stock Up 0.8 %

The company has a market capitalization of $1.06 billion, a P/E ratio of -11.41 and a beta of 1.03. The stock has a fifty day simple moving average of $22.60 and a 200-day simple moving average of $24.13.

Insider Activity

In other news, COO Anish Patel sold 21,700 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $24.18, for a total transaction of $524,706.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Benjamin Hohl sold 5,250 shares of the business’s 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. Over the last ninety days, insiders sold 43,117 shares of company stock worth $1,013,775. 29.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its position in shares of Enliven Therapeutics by 230.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,598 shares of the company’s stock worth $36,000 after buying an additional 1,114 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Enliven Therapeutics during the 4th quarter valued at about $97,000. ExodusPoint Capital Management LP bought a new position in shares of Enliven Therapeutics during the 4th quarter valued at about $200,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Enliven Therapeutics by 64.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock valued at $232,000 after purchasing an additional 3,559 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Enliven Therapeutics during the 3rd quarter valued at about $256,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.

About Enliven Therapeutics

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.