Enliven Therapeutics, Inc. $ELVN Shares Sold by Lord Abbett & CO. LLC

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 cut its holdings in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) by 48.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 197,279 shares of the company's stock after selling 188,932 shares during the period. Lord Abbett & CO. LLC owned 0.40% of Enliven Therapeutics worth $3,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in Enliven Therapeutics by 148,550.7% in the first quarter. Russell Investments Group Ltd. now owns 105,542 shares of the company's stock worth $2,077,000 after acquiring an additional 105,471 shares during the period. Nuveen LLC purchased a new stake in shares of Enliven Therapeutics in the 1st quarter worth about $2,049,000. Invesco Ltd. boosted its stake in shares of Enliven Therapeutics by 39.6% during the 1st quarter. Invesco Ltd. now owns 21,044 shares of the company's stock valued at $414,000 after purchasing an additional 5,972 shares in the last quarter. BIT Capital GmbH bought a new stake in shares of Enliven Therapeutics during the 1st quarter valued at about $382,000. Finally, XTX Topco Ltd purchased a new position in shares of Enliven Therapeutics during the first quarter valued at about $430,000. Institutional investors own 95.08% of the company's stock.

Enliven Therapeutics Trading Up 1.0%

ELVN stock traded up $0.1980 during midday trading on Thursday, reaching $19.8580. 642,359 shares of the company's stock traded hands, compared to its average volume of 367,199. Enliven Therapeutics, Inc. has a 52-week low of $13.30 and a 52-week high of $30.03. The stock has a market cap of $1.18 billion, a P/E ratio of -9.94 and a beta of 0.93. The stock's 50-day moving average is $20.63 and its 200 day moving average is $19.89.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.53) by $0.04. As a group, research analysts expect that Enliven Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Anish Patel sold 6,667 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $20.34, for a total value of $135,606.78. Following the completion of the sale, the chief operating officer directly owned 303,309 shares of the company's stock, valued at $6,169,305.06. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph P. Lyssikatos sold 12,500 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $22.29, for a total transaction of $278,625.00. Following the completion of the transaction, the insider owned 952,688 shares of the company's stock, valued at $21,235,415.52. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,734 shares of company stock valued at $2,224,193 in the last three months. Corporate insiders own 25.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ELVN. Robert W. Baird lifted their price objective on Enliven Therapeutics from $40.00 to $52.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. The Goldman Sachs Group began coverage on shares of Enliven Therapeutics in a research note on Monday, June 16th. They set a "buy" rating and a $37.00 price objective on the stock. Jones Trading decreased their target price on shares of Enliven Therapeutics from $36.00 to $27.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, HC Wainwright lifted their target price on shares of Enliven Therapeutics from $40.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average 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.