Lord Abbett & CO. LLC Takes Position in Enliven Therapeutics, Inc. (NASDAQ:ELVN)

Lord Abbett & CO. LLC purchased a new stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 321,055 shares of the company's stock, valued at approximately $8,199,000. Lord Abbett & CO. LLC owned approximately 0.66% of Enliven Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC lifted its holdings in shares of Enliven Therapeutics by 87.3% in the second quarter. Quest Partners LLC now owns 1,592 shares of the company's stock valued at $37,000 after purchasing an additional 742 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in 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 worth $232,000 after purchasing an additional 3,559 shares in the last quarter. SG Americas Securities LLC acquired a new position in Enliven Therapeutics in the 3rd quarter valued at about $256,000. Verition Fund Management LLC acquired a new position in Enliven Therapeutics in the 3rd quarter valued at about $271,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Enliven Therapeutics during the 2nd quarter worth about $322,000. Institutional investors and hedge funds own 95.08% of the company's stock.

Enliven Therapeutics Stock Up 3.5 %

Shares of ELVN stock traded up $0.82 on Tuesday, reaching $24.39. 219,814 shares of the stock were exchanged, compared to its average volume of 253,105. Enliven Therapeutics, Inc. has a 1-year low of $10.90 and a 1-year high of $30.03. The stock has a market cap of $1.19 billion, a P/E ratio of -12.41 and a beta of 1.02. The firm has a 50 day moving average of $26.48 and a two-hundred day moving average of $24.19.

Insiders Place Their Bets

In related news, CEO Samuel Kintz sold 2,730 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $27.50, for a total transaction of $75,075.00. Following the completion of the sale, the chief executive officer now directly owns 1,033,793 shares of the company's stock, valued at approximately $28,429,307.50. This represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Benjamin Hohl sold 4,250 shares of the firm's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $24.27, for a total value of $103,147.50. The disclosure for this sale can be found here. Insiders sold 129,195 shares of company stock worth $3,581,772 over the last three months. 29.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ELVN shares. Robert W. Baird upped their price objective on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, November 15th. HC Wainwright restated a "buy" rating and set a $37.00 price objective on shares of Enliven Therapeutics in a report on Tuesday, October 1st. Finally, BTIG Research began coverage on Enliven Therapeutics in a research note on Friday. They issued a "buy" rating and a $42.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $38.25.

Enliven Therapeutics 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.