Ally Bridge Group NY LLC Buys New Position in Enliven Therapeutics, Inc. (NASDAQ:ELVN)

Ally Bridge Group NY LLC bought a new stake in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 234,856 shares of the company’s stock, valued at approximately $5,998,000. Enliven Therapeutics makes up 3.2% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 15th largest holding.

Other hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in shares of Enliven Therapeutics by 10.6% in the third quarter. FMR LLC now owns 6,296,179 shares of the company’s stock worth $160,804,000 after buying an additional 601,611 shares during the period. First Turn Management LLC purchased a new stake in Enliven Therapeutics in the 2nd quarter worth approximately $9,657,000. Janus Henderson Group PLC raised its stake in Enliven Therapeutics by 74.8% during the 1st quarter. Janus Henderson Group PLC now owns 713,911 shares of the company’s stock worth $12,604,000 after acquiring an additional 305,397 shares during the period. Marshall Wace LLP purchased a new position in Enliven Therapeutics during the second quarter valued at approximately $4,489,000. Finally, Nicholas Investment Partners LP bought a new position in shares of Enliven Therapeutics in the second quarter worth approximately $1,310,000. Institutional investors own 95.08% of the company’s stock.

Insider Activity

In other news, insider Joseph P. Lyssikatos sold 37,878 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $28.16, for a total transaction of $1,066,644.48. Following the completion of the transaction, the insider now directly owns 1,016,035 shares in the company, valued at approximately $28,611,545.60. This represents a 3.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samuel Kintz sold 12,206 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $27.51, for a total transaction of $335,787.06. Following the completion of the transaction, the chief executive officer now directly owns 1,036,523 shares of the company’s stock, valued at approximately $28,514,747.73. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,945 shares of company stock worth $3,451,099 over the last 90 days. Corporate insiders own 29.20% of the company’s stock.

Enliven Therapeutics Stock Performance

ELVN stock opened at $25.41 on Thursday. The company has a market capitalization of $1.24 billion, a PE ratio of -13.37 and a beta of 1.08. Enliven Therapeutics, Inc. has a one year low of $9.80 and a one year high of $30.03. The company’s fifty day moving average price is $26.71 and its 200-day moving average price is $24.12.

Wall Street Analyst Weigh In

ELVN has been the topic of several recent analyst reports. Robert W. Baird raised their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Enliven Therapeutics in a research note on Tuesday, October 1st.

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.