Artiva Biotherapeutics’ (ARTV) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Artiva Biotherapeutics (NASDAQ:ARTV) in a report published on Friday morning, MarketBeat Ratings reports. The brokerage currently has a $40.00 price objective on the stock.

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

Artiva Biotherapeutics Price Performance

Shares of ARTV opened at $6.83 on Friday. Artiva Biotherapeutics has a 52-week low of $2.71 and a 52-week high of $14.53. The company has a 50-day simple moving average of $10.15 and a 200-day simple moving average of $9.21. The company has a market capitalization of $333.92 million, a PE ratio of -2.07 and a beta of 2.40.

Artiva Biotherapeutics (NASDAQ:ARTV) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.63) EPS for the quarter, hitting analysts’ consensus estimates of ($0.63). On average, research analysts anticipate that Artiva Biotherapeutics will post -2.62 EPS for the current year.

Insider Activity

In other Artiva Biotherapeutics news, Director Ra Capital Management, L.P. acquired 24,944 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of $9.93 per share, with a total value of $247,693.92. Following the purchase, the director directly owned 17,329,570 shares in the company, valued at approximately $172,082,630.10. This trade represents a 0.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Fred Aslan sold 23,429 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $10.92, for a total value of $255,844.68. Following the completion of the sale, the chief executive officer directly owned 1,449,765 shares in the company, valued at approximately $15,831,433.80. The trade was a 1.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 373,327 shares of company stock worth $3,645,857 and have sold 32,080 shares worth $359,739. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Artiva Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in shares of Artiva Biotherapeutics during the 2nd quarter worth about $144,000. Spark Investment Management LLC purchased a new position in shares of Artiva Biotherapeutics during the 2nd quarter worth $160,000. Alyeska Investment Group L.P. lifted 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 worth $2,654,000 after buying an additional 173,615 shares during the period. Nantahala Capital Management LLC acquired a new position in shares of Artiva Biotherapeutics during the 2nd quarter valued at about $2,910,000. Finally, 5AM Venture Management LLC purchased a new position in shares of Artiva Biotherapeutics during the 2nd quarter worth about $22,827,049.

Artiva Biotherapeutics Company Profile

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.