Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Receives Average Recommendation of “Moderate Buy” from Brokerages

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $39.00.

Several research analysts have weighed in on ARTV shares. Wall Street Zen upgraded shares of Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. Cantor Fitzgerald upped their price objective on shares of Artiva Biotherapeutics from $10.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. HC Wainwright upped their price objective on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Wedbush upped their price objective on shares of Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, May 11th.

Insiders Place Their Bets

In other Artiva Biotherapeutics news, Director Ra Capital Management, L.P. acquired 6,510,416 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $11.52 per share, for a total transaction of $74,999,992.32. Following the completion of the acquisition, the director owned 15,203,995 shares in the company, valued at approximately $175,150,022.40. This represents a 74.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in 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 buying an additional 11,190 shares during the last quarter. Prelude Capital Management LLC bought a new stake in shares of Artiva Biotherapeutics in the 3rd quarter worth $41,000. Dimensional Fund Advisors LP bought a new stake in shares of Artiva Biotherapeutics in the 1st quarter worth $131,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Artiva Biotherapeutics in the 4th quarter worth $91,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Artiva Biotherapeutics in the 1st quarter worth $139,000.

Artiva Biotherapeutics Stock Down 8.4%

Artiva Biotherapeutics stock opened at $9.78 on Friday. Artiva Biotherapeutics has a 12-month low of $1.47 and a 12-month high of $14.53. The firm’s fifty day moving average is $8.19 and its 200 day moving average is $5.58. The company has a market capitalization of $241.76 million, a PE ratio of -2.76 and a beta of 2.86.

Artiva Biotherapeutics (NASDAQ:ARTV) last released its earnings results on Friday, May 8th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). Sell-side analysts expect that Artiva Biotherapeutics will post -2.45 EPS for the current fiscal year.

About Artiva Biotherapeutics

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.