Artiva Biotherapeutics (NASDAQ:ARTV) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a report released on Friday, MarketBeat reports. They currently have a $40.00 price objective on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 485.65% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Artiva Biotherapeutics in a research report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Artiva Biotherapeutics Stock Performance

NASDAQ:ARTV opened at $6.83 on Friday. The company has a market cap of $333.92 million, a price-to-earnings ratio of -2.07 and a beta of 2.40. Artiva Biotherapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $14.53. The stock has a fifty day moving average price of $10.15 and a 200-day moving average price of $9.21.

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

Insider Activity

In other Artiva Biotherapeutics news, CEO Fred Aslan sold 23,429 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $10.92, for a total value of $255,844.68. Following the completion of the transaction, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. bought 120,582 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was purchased at an average price of $9.55 per share, with a total value of $1,151,558.10. Following the completion of the transaction, the director directly owned 17,098,479 shares of the company’s stock, valued at approximately $163,290,474.45. The trade was a 0.71% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 373,327 shares of company stock worth $3,645,857 and sold 32,080 shares worth $359,739. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new position in Artiva Biotherapeutics in the 2nd quarter valued at approximately $144,000. Spark Investment Management LLC bought a new stake in Artiva Biotherapeutics during the 2nd quarter worth approximately $160,000. Alyeska Investment Group L.P. increased its position 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. Nantahala Capital Management LLC acquired a new position in Artiva Biotherapeutics in the 2nd quarter valued at approximately $2,910,000. Finally, 5AM Venture Management LLC bought a new position in shares of Artiva Biotherapeutics during the second quarter valued at $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.