Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Down – What’s Next?

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price gapped down before the market opened 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ELVN. BTIG Research initiated coverage on shares of Enliven Therapeutics in a research report on Friday, December 13th. They set a “buy” rating and a $42.00 price target for the company. Robert W. Baird upped 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. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $38.25.

Enliven Therapeutics Stock Performance

The firm has a fifty day simple moving average of $22.64 and a 200-day simple moving average of $24.15. The company has a market capitalization of $1.09 billion, a PE ratio of -11.86 and a beta of 1.03.

Insider Buying and Selling at Enliven Therapeutics

In other news, COO Anish Patel sold 21,700 shares of Enliven Therapeutics stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $24.18, for a total value of $524,706.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Benjamin Hohl sold 1,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $25.04, for a total transaction of $25,040.00. Following the sale, the chief financial officer now owns 13,000 shares in the company, valued at approximately $325,520. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,117 shares of company stock worth $1,013,775 over the last quarter. 29.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Enliven Therapeutics in the 2nd quarter worth approximately $322,000. SG Americas Securities LLC acquired a new stake in Enliven Therapeutics in the third quarter worth $256,000. China Universal Asset Management Co. Ltd. lifted its stake in Enliven Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock valued at $232,000 after buying an additional 3,559 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Enliven Therapeutics by 1,226.4% during the third quarter. Quest Partners LLC now owns 21,117 shares of the company’s stock valued at $539,000 after acquiring an additional 19,525 shares during the period. Finally, First Turn Management LLC grew its position in shares of Enliven Therapeutics by 29.5% during the third quarter. First Turn Management LLC now owns 535,092 shares of the company’s stock worth $13,666,000 after acquiring an additional 121,849 shares during the last quarter. 95.08% of the stock is owned by institutional investors.

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.