Cantor Fitzgerald Reaffirms “Overweight” Rating for Artiva Biotherapeutics (NASDAQ:ARTV)

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued to investors on Friday, Marketbeat reports. They currently have a $40.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 450.21% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, July 21st. Wall Street Zen raised shares of Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Artiva Biotherapeutics in a research note 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Artiva Biotherapeutics Stock Performance

NASDAQ ARTV traded up $0.14 during trading on Friday, hitting $7.27. The stock had a trading volume of 665,410 shares, compared to its average volume of 393,655. The stock has a market capitalization of $355.43 million, a price-to-earnings ratio of -2.20 and a beta of 2.40. Artiva Biotherapeutics has a one year low of $2.71 and a one year high of $14.53. The stock has a 50 day simple moving average of $10.09 and a 200 day simple moving average of $9.22.

Artiva Biotherapeutics (NASDAQ:ARTV) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.63). On average, sell-side analysts predict that Artiva Biotherapeutics will post -2.62 EPS for the current year.

Insider Activity at Artiva Biotherapeutics

In related news, CEO Fred Aslan sold 61,696 shares of Artiva Biotherapeutics stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $6.84, for a total transaction of $422,000.64. Following the transaction, the chief executive officer directly owned 1,543,069 shares of the company’s stock, valued at $10,554,591.96. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christopher Horan sold 10,340 shares of Artiva Biotherapeutics stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $6.84, for a total transaction of $70,725.60. Following the transaction, the insider directly owned 312,744 shares in the company, valued at approximately $2,139,168.96. The trade was a 3.20% decrease in their ownership of the stock. 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 ninety days, insiders have acquired 373,327 shares of company stock valued at $3,645,857 and have sold 113,585 shares valued at $917,233. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Artiva Biotherapeutics

Institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new position in Artiva Biotherapeutics in the second quarter worth $45,000. Squarepoint Ops LLC purchased a new position in Artiva Biotherapeutics in the second quarter worth $144,000. Spark Investment Management LLC purchased a new position in Artiva Biotherapeutics in the second quarter worth $160,000. Dimensional Fund Advisors LP purchased a new position in Artiva Biotherapeutics in the first quarter worth $131,000. Finally, Sanctuary Advisors LLC purchased a new position in Artiva Biotherapeutics in the first quarter worth $139,000.

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.