Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Receives $39.00 Consensus PT from Analysts

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $39.00.

A number of research analysts have issued reports on the stock. Wedbush boosted their target price on shares of Artiva Biotherapeutics from $23.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Friday, April 24th. Wall Street Zen cut Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Artiva Biotherapeutics in a research note on Monday, June 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Artiva Biotherapeutics in a research report on Tuesday, May 26th.

Artiva Biotherapeutics Trading Up 2.4%

ARTV traded up $0.23 during trading on Friday, reaching $9.64. 442,030 shares of the company were exchanged, compared to its average volume of 623,311. Artiva Biotherapeutics has a 52 week low of $1.77 and a 52 week high of $14.53. The firm has a 50 day moving average of $9.06 and a 200 day moving average of $6.94. The stock has a market cap of $238.30 million, a P/E ratio of -2.72 and a beta of 2.18.

Artiva Biotherapeutics (NASDAQ:ARTV) last posted 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). As a group, analysts forecast that Artiva Biotherapeutics will post -2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Artiva Biotherapeutics

In related news, Director Ra Capital Management, L.P. acquired 31,000 shares of Artiva Biotherapeutics stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average price of $8.88 per share, with a total value of $275,280.00. Following the completion of the acquisition, the director directly owned 16,794,043 shares of the company’s stock, valued at $149,131,101.84. This trade represents a 0.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fred Aslan sold 27,116 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $9.01, for a total transaction of $244,315.16. Following the transaction, the chief executive officer directly owned 1,535,082 shares in the company, valued at approximately $13,831,088.82. The trade was a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders purchased 9,534,631 shares of company stock valued at $104,042,163 and sold 53,040 shares valued at $477,890. Company insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Artiva Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prelude Capital Management LLC acquired a new stake in Artiva Biotherapeutics in the third quarter worth approximately $41,000. Bank of America Corp DE raised its stake in shares of Artiva Biotherapeutics by 225.8% in the 3rd 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 in the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of Artiva Biotherapeutics in the 2nd quarter worth $53,000. Qube Research & Technologies Ltd acquired a new stake in shares of Artiva Biotherapeutics in the second quarter valued at $58,000. Finally, Jane Street Group LLC acquired a new stake in shares of Artiva Biotherapeutics in the second quarter valued at $67,000.

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.