Artiva Biotherapeutics (NASDAQ:ARTV) Stock Dropped to “Strong Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Artiva Biotherapeutics (NASDAQ:ARTV) from a sell rating to a strong sell rating in a research report released on Saturday morning,Wall Street Zen reports.

ARTV has been the subject of several other reports. Needham & Company LLC cut shares of Artiva Biotherapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. TD Cowen lowered shares of Artiva Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 target price on shares of Artiva Biotherapeutics in a report on Friday, October 2nd. Jefferies Financial Group downgraded Artiva Biotherapeutics from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Thursday, October 29th. Finally, Wedbush downgraded Artiva Biotherapeutics from an “outperform” rating to a “neutral” rating and set a $4.00 target price for the company. in a research report on Tuesday, October 27th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.80.

Artiva Biotherapeutics Trading Up 1.3%

ARTV stock traded up $0.05 during trading on Friday, hitting $4.01. The company had a trading volume of 868,509 shares, compared to its average volume of 1,345,493. The firm has a market capitalization of $198.21 million, a price-to-earnings ratio of -1.35 and a beta of 2.67. The business has a 50 day moving average of $6.66 and a 200 day moving average of $7.93. Artiva Biotherapeutics has a fifty-two week low of $2.96 and a fifty-two week high of $14.53.

Artiva Biotherapeutics (NASDAQ:ARTV) last announced its earnings results on Monday, November 9th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). As a group, equities analysts predict that Artiva Biotherapeutics will post -2.74 EPS for the current year.

Insider Buying and Selling at Artiva Biotherapeutics

In other news, insider Subhashis Banerjee sold 8,222 shares of Artiva Biotherapeutics stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $12.01, for a total value of $98,746.22. Following the transaction, the insider owned 142,047 shares of the company’s stock, valued at $1,705,984.47. The trade was a 5.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Fred Aslan sold 61,696 shares of Artiva Biotherapeutics stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $6.84, for a total transaction of $422,000.64. Following the completion of the transaction, the chief executive officer directly owned 1,543,069 shares in the company, valued at $10,554,591.96. This represents a 3.84% decrease in their position. 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. In the last quarter, insiders have sold 137,048 shares of company stock worth $1,086,167. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. 5AM Venture Management LLC acquired a new stake in shares of Artiva Biotherapeutics during the second quarter worth $22,827,049. Blue Owl Capital Holdings LP purchased a new stake in shares of Artiva Biotherapeutics during the second quarter valued at $8,483,000. BlackRock Inc. acquired a new position in shares of Artiva Biotherapeutics in the 2nd quarter valued at $6,739,000. Nantahala Capital Management LLC acquired a new position in shares of Artiva Biotherapeutics in the 2nd quarter valued at $2,910,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of 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 purchasing an additional 173,615 shares during the period.

About Artiva Biotherapeutics

Artiva Biotherapeutics is a San Diego-based clinical-stage biotechnology company developing allogeneic, or donor-derived, natural killer (NK) cell therapies. Its approach is designed to provide ready-made cell treatments for patients with cancer and autoimmune diseases. The company’s lead candidate, AlloNK (also known as AB-101), is an investigational NK cell therapy being studied in combination with antibody treatments. Artiva is evaluating its potential in autoimmune conditions and in cancers, including B-cell malignancies.