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

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.

Analyst Upgrades and Downgrades

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

Enliven Therapeutics Stock Performance

The business has a fifty day simple moving average of $22.60 and a 200-day simple moving average of $24.13. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -11.41 and a beta of 1.03.

Insiders Place Their Bets

In other Enliven Therapeutics news, COO Anish Patel sold 6,667 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $21.93, for a total value of $146,207.31. Following the transaction, the chief operating officer now owns 329,977 shares in the company, valued at approximately $7,236,395.61. This represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Benjamin Hohl sold 3,250 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $21.59, for a total value of $70,167.50. Following the completion of the transaction, the chief financial officer now owns 13,000 shares in the company, valued at approximately $280,670. The trade was a 20.00 % decrease in their position. 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 in the last 90 days. Corporate insiders own 29.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Enliven Therapeutics by 3.2% in the fourth quarter. FMR LLC now owns 6,495,871 shares of the company’s stock worth $146,157,000 after acquiring an additional 199,692 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Enliven Therapeutics by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 1,975,655 shares of the company’s stock worth $44,452,000 after acquiring an additional 55,283 shares during the period. Janus Henderson Group PLC increased its position in Enliven Therapeutics by 43.0% in the third quarter. Janus Henderson Group PLC now owns 1,041,724 shares of the company’s stock worth $26,611,000 after buying an additional 313,019 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Enliven Therapeutics by 16.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 972,293 shares of the company’s stock worth $21,877,000 after buying an additional 135,969 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Enliven Therapeutics by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 762,718 shares of the company’s stock worth $17,165,000 after buying an additional 12,510 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

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.