Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Down - Here's Why

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report)'s share price 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ELVN shares. Robert W. Baird boosted their target price on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, November 15th. BTIG Research started coverage on shares of 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $38.25.

Enliven Therapeutics Price Performance

The company's 50-day moving average is $22.53 and its two-hundred day moving average is $24.06. The firm has a market cap of $1.06 billion, a P/E ratio of -11.41 and a beta of 1.03.

Insider Buying and Selling

In other news, CFO Benjamin Hohl sold 3,350 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $22.15, for a total value of $74,202.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anish Patel sold 21,700 shares of the 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 disclosure for this sale can be found here. Insiders sold 43,117 shares of company stock valued at $1,013,775 over the last quarter. 29.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings in shares of Enliven Therapeutics by 3.5% in the fourth quarter. Invesco Ltd. now owns 15,072 shares of the company's stock worth $339,000 after acquiring an additional 508 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enliven Therapeutics by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,036 shares of the company's stock worth $451,000 after acquiring an additional 718 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Enliven Therapeutics by 230.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,598 shares of the company's stock worth $36,000 after acquiring an additional 1,114 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Enliven Therapeutics by 14.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,360 shares of the company's stock valued at $233,000 after buying an additional 1,275 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Enliven Therapeutics by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 21,746 shares of the company's stock valued at $489,000 after buying an additional 1,285 shares during the period. Institutional investors 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.