Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $39.00.

A number of research firms have recently weighed in on ARTV. Needham & Company LLC reiterated a “buy” rating and set a $41.00 price target on shares of Artiva Biotherapeutics in a report on Monday. Wedbush increased their price target on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. Wall Street Zen cut Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Artiva Biotherapeutics in a report on Tuesday, May 26th.

Artiva Biotherapeutics Trading Up 6.9%

NASDAQ ARTV opened at $7.27 on Wednesday. The stock has a market cap of $179.71 million, a PE ratio of -2.05 and a beta of 2.38. Artiva Biotherapeutics has a twelve month low of $1.47 and a twelve month high of $14.53. The stock has a fifty day simple moving average of $8.82 and a 200-day simple moving average of $6.05.

Artiva Biotherapeutics (NASDAQ:ARTV) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). Research analysts predict that Artiva Biotherapeutics will post -2.45 EPS for the current year.

Insider Activity

In related news, CEO Fred Aslan sold 27,116 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $9.01, for a total transaction of $244,315.16. Following the transaction, the chief executive officer owned 1,535,082 shares of the company’s stock, valued at approximately $13,831,088.82. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ra Capital Management, L.P. bought 6,510,416 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $11.52 per share, for a total transaction of $74,999,992.32. Following the purchase, the director owned 15,203,995 shares in the company, valued at $175,150,022.40. This represents a 74.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 7,942,707 shares of company stock worth $91,499,985 and have sold 53,040 shares worth $477,890. Insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several hedge funds have recently bought and sold shares of ARTV. Marshall Wace LLP acquired a new position in Artiva Biotherapeutics during the 2nd quarter worth about $79,000. Qube Research & Technologies Ltd acquired a new position in Artiva Biotherapeutics during the 2nd quarter worth about $58,000. Jane Street Group LLC acquired a new position in Artiva Biotherapeutics during the 2nd quarter worth about $67,000. Bridgeway Capital Management LLC acquired a new position in Artiva Biotherapeutics during the 2nd quarter worth about $53,000. Finally, BNP Paribas Financial Markets lifted its stake in Artiva Biotherapeutics by 14,463.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 118,547 shares of the company’s stock worth $340,000 after acquiring an additional 117,733 shares in the last quarter.

Artiva Biotherapeutics Company Profile

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company focused on the development of allogeneic “off-the-shelf” cell therapies for cancer. The company’s proprietary platform leverages natural killer (NK) cells engineered to express chimeric antigen receptors (CARs) or other targeting modalities, with the goal of delivering potent anti-tumor activity while minimizing the safety and supply limitations associated with patient-derived (autologous) approaches.

Artiva’s pipeline includes multiple lead product candidates designed to address both hematologic malignancies and solid tumors.