Lord Abbett & CO. LLC Sells 188,932 Shares of Enliven Therapeutics, Inc. $ELVN

Key Points

• Lord Abbett & CO. LLC has decreased its stake in Enliven Therapeutics by 48.9% during the first quarter, now holding 197,279 shares valued at approximately $3.88 million.
• CEO Samuel Kintz and another insider sold a combined total of 25,000 shares of the company's stock, reflecting a slight decrease in their respective holdings.
• Analysts have issued optimistic forecasts, with multiple firms raising their price targets significantly, highlighting a consensus rating of "Buy" for Enliven Therapeutics

Lord Abbett & CO. LLC trimmed its position in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) by 48.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,279 shares of the company's stock after selling 188,932 shares during the quarter. Lord Abbett & CO. LLC owned about 0.40% of Enliven Therapeutics worth $3,882,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ELVN. Tower Research Capital LLC TRC increased 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 purchasing an additional 1,114 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Enliven Therapeutics by 3,058.1% in the first quarter. GAMMA Investing LLC now owns 2,716 shares of the company's stock worth $53,000 after purchasing an additional 2,630 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Enliven Therapeutics in the fourth quarter worth about $112,000. Brevan Howard Capital Management LP bought a new stake in shares of Enliven Therapeutics in the fourth quarter worth about $228,000. Finally, ProShare Advisors LLC increased its holdings in shares of Enliven Therapeutics by 29.5% in the fourth quarter. ProShare Advisors LLC now owns 12,229 shares of the company's stock worth $275,000 after purchasing an additional 2,788 shares during the last quarter. 95.08% of the stock is owned by institutional investors.

Enliven Therapeutics Price Performance

Shares of NASDAQ:ELVN traded up $1.07 during trading hours on Friday, hitting $20.91. 143,253 shares of the company's stock traded hands, compared to its average volume of 367,734. Enliven Therapeutics, Inc. has a 1 year low of $13.30 and a 1 year high of $30.03. The business has a fifty day moving average price of $20.63 and a 200-day moving average price of $19.87. The firm has a market capitalization of $1.24 billion, a P/E ratio of -10.42 and a beta of 0.93.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.04. As a group, equities analysts predict that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

Insider Activity at Enliven Therapeutics

In other news, CEO Samuel Kintz sold 10,393 shares of Enliven Therapeutics stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $20.02, for a total transaction of $208,067.86. Following the completion of the sale, the chief executive officer owned 929,999 shares of the company's stock, valued at approximately $18,618,579.98. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Anish Patel sold 6,667 shares of Enliven Therapeutics stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $18.24, for a total transaction of $121,606.08. Following the sale, the chief operating officer directly owned 289,975 shares of the company's stock, valued at $5,289,144. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,234 shares of company stock worth $2,472,368. Insiders own 25.90% of the company's stock.

Analyst Ratings Changes

ELVN has been the topic of several research reports. The Goldman Sachs Group initiated coverage on Enliven Therapeutics in a report on Monday, June 16th. They issued a "buy" rating and a $37.00 target price on the stock. HC Wainwright lifted their price target on Enliven Therapeutics from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Jones Trading dropped their price target on Enliven Therapeutics from $36.00 to $27.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Robert W. Baird lifted their price target on Enliven Therapeutics from $40.00 to $52.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $41.20.

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.