Artiva Biotherapeutics’ (ARTV) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $40.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 461.01% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $41.00 price target on shares of Artiva Biotherapeutics in a research report on Monday, June 8th. One investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Artiva Biotherapeutics Price Performance

ARTV traded up $0.30 during trading on Friday, reaching $7.13. 473,166 shares of the company’s stock were exchanged, compared to its average volume of 392,225. Artiva Biotherapeutics has a 1 year low of $2.71 and a 1 year high of $14.53. The stock has a market capitalization of $348.59 million, a P/E ratio of -2.16 and a beta of 2.40. The company’s fifty day simple moving average is $10.09 and its 200-day simple moving average is $9.22.

Artiva Biotherapeutics (NASDAQ:ARTV) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.63). Equities analysts forecast that Artiva Biotherapeutics will post -2.62 EPS for the current year.

Insider Buying and Selling at Artiva Biotherapeutics

In other news, CEO Fred Aslan sold 23,429 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $10.92, for a total transaction of $255,844.68. Following the sale, the chief executive officer directly owned 1,449,765 shares of the company’s stock, valued at $15,831,433.80. This represents a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ra Capital Management, L.P. bought 120,582 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were acquired at an average price of $9.55 per share, for a total transaction of $1,151,558.10. Following the completion of the transaction, the director directly owned 17,098,479 shares in the company, valued at approximately $163,290,474.45. This trade represents a 0.71% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 373,327 shares of company stock valued at $3,645,857 and sold 32,080 shares valued at $359,739. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Artiva Biotherapeutics

A number of hedge funds have recently bought and sold shares of ARTV. 5AM Venture Management LLC acquired a new stake in Artiva Biotherapeutics in the second quarter valued at approximately $22,827,049. Blue Owl Capital Holdings LP acquired a new position in shares of Artiva Biotherapeutics during the 2nd quarter worth approximately $8,483,000. BlackRock Inc. purchased a new position in shares of Artiva Biotherapeutics during the 2nd quarter valued at approximately $6,739,000. Nantahala Capital Management LLC purchased a new position in shares of Artiva Biotherapeutics during the 2nd quarter valued at approximately $2,910,000. Finally, Alyeska Investment Group L.P. grew its stake in Artiva Biotherapeutics by 173.6% in the 2nd quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company’s stock valued at $2,654,000 after acquiring an additional 173,615 shares during the period.

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.