Artiva Biotherapeutics (NASDAQ:ARTV) Earns Overweight Rating from Cantor Fitzgerald

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $40.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 447.20% from the company’s previous close.

ARTV has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Artiva Biotherapeutics in a report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Tuesday, July 21st. Finally, Wall Street Zen raised Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Artiva Biotherapeutics Stock Performance

NASDAQ:ARTV traded up $0.18 on Friday, hitting $7.31. 473,717 shares of the stock were exchanged, compared to its average volume of 392,393. Artiva Biotherapeutics has a 52 week low of $2.71 and a 52 week high of $14.53. The stock has a market capitalization of $357.39 million, a price-to-earnings ratio of -2.22 and a beta of 2.40. The company’s 50-day moving average price is $10.09 and its 200 day moving average price is $9.22.

Artiva Biotherapeutics (NASDAQ:ARTV) last issued its earnings results on Thursday, August 6th. The company reported ($0.63) EPS for the quarter, meeting the consensus estimate of ($0.63). As a group, equities research analysts predict that Artiva Biotherapeutics will post -2.62 earnings per share for the current year.

Insider Transactions at Artiva Biotherapeutics

In related news, Director Ra Capital Management, L.P. acquired 120,582 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The stock was acquired at an average cost of $9.55 per share, for a total transaction of $1,151,558.10. Following the completion of the acquisition, the director directly owned 17,098,479 shares of the company’s stock, valued at approximately $163,290,474.45. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Subhashis Banerjee sold 8,222 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $12.01, for a total value of $98,746.22. Following the sale, the insider owned 142,047 shares of the company’s stock, valued at approximately $1,705,984.47. The trade was a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have bought 373,327 shares of company stock worth $3,645,857 and have sold 32,080 shares worth $359,739. 1.80% of the stock is owned by company insiders.

Institutional Trading of Artiva Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Artiva Biotherapeutics in the 2nd quarter valued at $6,739,000. ADAR1 Capital Management LLC purchased a new position in shares of Artiva Biotherapeutics in the 2nd quarter worth about $1,151,000. Nantahala Capital Management LLC purchased a new position in shares of Artiva Biotherapeutics in the 2nd quarter worth about $2,910,000. Alyeska Investment Group L.P. grew its position in Artiva Biotherapeutics by 173.6% during the second quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company’s stock valued at $2,654,000 after buying an additional 173,615 shares during the period. Finally, Blue Owl Capital Holdings LP purchased a new stake in Artiva Biotherapeutics during the second quarter worth about $8,483,000.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc (NASDAQ:ARTV) is a clinical-stage biotechnology company developing allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is designed to produce off-the-shelf cell therapies that can be manufactured at scale and administered without using cells collected from each individual patient.

Artiva’s lead investigational product, AlloNK, also known as AB-101, is an allogeneic NK cell therapy being evaluated in combination with rituximab for autoimmune conditions, including systemic lupus erythematosus and lupus nephritis.