Artiva Biotherapeutics (NASDAQ:ARTV) Earns Neutral Rating from Wedbush

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wedbush in a report released on Tuesday, Marketbeat reports. They currently have a $4.00 target price on the stock. Wedbush‘s price target suggests a potential downside of 7.02% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. HC Wainwright reissued a “buy” rating on shares of Artiva Biotherapeutics in a report on Friday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Artiva Biotherapeutics in a research note on Friday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Monday, October 19th. Finally, Wall Street Zen raised Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Artiva Biotherapeutics currently has a consensus rating of “Hold” and an average price target of $30.00.

Artiva Biotherapeutics Trading Down 30.2%

Shares of ARTV traded down $1.86 during trading hours on Tuesday, reaching $4.30. 5,046,451 shares of the company’s stock traded hands, compared to its average volume of 416,699. The stock has a market cap of $210.32 million, a PE ratio of -1.29 and a beta of 2.40. Artiva Biotherapeutics has a 12 month low of $2.96 and a 12 month high of $14.53. The firm’s 50 day simple moving average is $8.80 and its 200-day simple moving average is $7.96.

Artiva Biotherapeutics (NASDAQ:ARTV) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.63) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.63). As a group, analysts expect that Artiva Biotherapeutics will post -2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. purchased 24,944 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were 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 of the company’s stock, valued at approximately $172,082,630.10. This trade represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Subhashis Banerjee sold 8,222 shares of Artiva Biotherapeutics stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $12.01, for a total value of $98,746.22. Following the completion of the transaction, the insider directly owned 142,047 shares in the company, valued at $1,705,984.47. This trade represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 137,048 shares of company stock worth $1,086,167. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Artiva Biotherapeutics

Hedge funds have recently made changes to their positions in the business. State of Wyoming purchased a new position in shares of Artiva Biotherapeutics during the second quarter valued at approximately $45,000. Squarepoint Ops LLC purchased a new position in shares of Artiva Biotherapeutics during the second quarter valued at approximately $144,000. Spark Investment Management LLC bought a new stake in shares of Artiva Biotherapeutics during the second quarter valued at approximately $160,000. Dimensional Fund Advisors LP bought a new stake in shares of Artiva Biotherapeutics during the first quarter valued at approximately $131,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Artiva Biotherapeutics during the first quarter valued at approximately $139,000.

Artiva Biotherapeutics Company Profile

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company developing off-the-shelf, allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is intended to provide readily available cell-based treatments that can be manufactured in advance and administered without using each patient’s own cells.

Artiva’s lead product candidate is AlloNK, also known as AB-101, an allogeneic NK cell therapy derived from umbilical cord blood. The company is evaluating AlloNK in combination with antibody treatments, including rituximab, for conditions such as B-cell malignancies and autoimmune diseases.