Artiva Biotherapeutics’ (ARTV) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $40.00 target price on the stock. Cantor Fitzgerald’s price target points to a potential upside of 482.24% from the company’s current price.

Several other brokerages have also weighed in on ARTV. Needham & Company LLC reiterated a “buy” rating and set a $41.00 price objective on shares of Artiva Biotherapeutics in a report on Monday, June 8th. Wall Street Zen upgraded shares of Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Tuesday, July 21st. One research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Artiva Biotherapeutics Price Performance

NASDAQ:ARTV traded up $0.08 on Friday, reaching $6.87. The stock had a trading volume of 125,209 shares, compared to its average volume of 389,292. The company has a market cap of $335.87 million, a price-to-earnings ratio of -2.09 and a beta of 2.41. The firm’s fifty day moving average is $10.21 and its two-hundred day moving average is $9.21. Artiva Biotherapeutics has a 12-month low of $2.71 and a 12-month high of $14.53.

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, hitting the consensus estimate of ($0.63). As a group, research analysts forecast that Artiva Biotherapeutics will post -2.62 earnings per share for the current fiscal year.

Insider Activity at Artiva Biotherapeutics

In related news, insider Subhashis Banerjee sold 8,222 shares of the firm’s 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 in the company, valued at approximately $1,705,984.47. This trade represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. purchased 120,582 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was acquired at an average price of $9.55 per share, for a total transaction of $1,151,558.10. Following the acquisition, the director directly owned 17,098,479 shares of the company’s stock, valued at $163,290,474.45. This trade represents a 0.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 373,327 shares of company stock worth $3,645,857 and have sold 32,080 shares worth $359,739. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARTV. 5AM Venture Management LLC acquired a new stake in Artiva Biotherapeutics in the second quarter valued at approximately $22,827,049. Blue Owl Capital Holdings LP acquired a new stake in shares of Artiva Biotherapeutics during the second quarter worth approximately $8,483,000. BlackRock Inc. acquired a new stake in shares of Artiva Biotherapeutics during the second quarter worth approximately $6,739,000. Nantahala Capital Management LLC acquired a new stake in shares of Artiva Biotherapeutics during the second quarter worth approximately $2,910,000. Finally, Alyeska Investment Group L.P. grew its position in shares of Artiva Biotherapeutics by 173.6% during the second quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company’s stock worth $2,654,000 after buying an additional 173,615 shares in the last quarter.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s platform is designed to produce off-the-shelf NK cell treatments that can be manufactured at scale and administered without requiring cells to be collected from each individual patient.

Artiva’s lead product candidate, AlloNK, also known as AB-101, is an investigational allogeneic NK cell therapy intended to target and eliminate antibody-coated cells.