Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Sees Large Drop in Short Interest

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) was the recipient of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 203,792 shares, a decrease of 28.5% from the January 15th total of 284,944 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 200,619 shares, the days-to-cover ratio is currently 1.0 days. Based on an average trading volume of 200,619 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.1% of the shares of the stock are sold short.

Artiva Biotherapeutics Stock Up 0.3%

Shares of NASDAQ:ARTV traded up $0.01 during trading on Friday, hitting $4.00. 39,960 shares of the stock traded hands, compared to its average volume of 169,642. The company has a fifty day moving average price of $4.29 and a two-hundred day moving average price of $3.62. Artiva Biotherapeutics has a 52-week low of $1.47 and a 52-week high of $7.36. The company has a market cap of $98.18 million, a price-to-earnings ratio of -1.55 and a beta of 2.92.

Artiva Biotherapeutics (NASDAQ:ARTV) last announced its earnings results on Wednesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, equities research analysts predict that Artiva Biotherapeutics will post -4.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARTV. HC Wainwright increased their target price on Artiva Biotherapeutics from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, January 27th. Finally, Jefferies Financial Group raised shares of Artiva Biotherapeutics to a “strong-buy” rating in a research report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ground Swell Capital LLC acquired a new position in shares of Artiva Biotherapeutics during the second quarter worth about $38,000. Prelude Capital Management LLC purchased a new stake in Artiva Biotherapeutics during the 3rd quarter valued at approximately $41,000. Bank of America Corp DE lifted its holdings in shares of Artiva Biotherapeutics by 225.8% during the third quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock worth $46,000 after purchasing an additional 11,190 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Artiva Biotherapeutics in the second quarter valued at about $48,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Artiva Biotherapeutics in the second quarter valued at approximately $53,000.

Artiva Biotherapeutics Company Profile

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company focused on the development of allogeneic “off-the-shelf” cell therapies for cancer. The company’s proprietary platform leverages natural killer (NK) cells engineered to express chimeric antigen receptors (CARs) or other targeting modalities, with the goal of delivering potent anti-tumor activity while minimizing the safety and supply limitations associated with patient-derived (autologous) approaches.

Artiva’s pipeline includes multiple lead product candidates designed to address both hematologic malignancies and solid tumors.