Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $39.00.

Several equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Artiva Biotherapeutics in a research note on Monday, June 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, May 26th. HC Wainwright lifted their price objective on Artiva Biotherapeutics from $15.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wedbush lifted their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Friday, April 24th.

Artiva Biotherapeutics Trading Down 2.9%

Shares of NASDAQ:ARTV opened at $8.91 on Wednesday. The firm has a market cap of $220.26 million, a price-to-earnings ratio of -2.52 and a beta of 2.38. Artiva Biotherapeutics has a 12-month low of $1.47 and a 12-month high of $14.53. The stock’s 50-day moving average price is $9.02 and its two-hundred day moving average price is $6.23.

Artiva Biotherapeutics (NASDAQ:ARTV) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). As a group, research analysts forecast that Artiva Biotherapeutics will post -2.45 earnings per share for the current fiscal year.

Insider Transactions at Artiva Biotherapeutics

In related news, COO Jennifer Bush sold 8,790 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.01, for a total transaction of $79,197.90. Following the transaction, the chief operating officer directly owned 337,920 shares of the company’s stock, valued at approximately $3,044,659.20. The trade was a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ra Capital Management, L.P. purchased 6,510,416 shares of Artiva Biotherapeutics stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $11.52 per share, for a total transaction of $74,999,992.32. Following the completion of the transaction, the director directly 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. Over the last quarter, insiders acquired 9,501,755 shares of company stock valued at $103,750,036 and sold 53,040 shares valued at $477,890. Corporate insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP acquired a new position in Artiva Biotherapeutics during the 1st quarter worth approximately $131,000. Sanctuary Advisors LLC acquired a new position in Artiva Biotherapeutics during the 1st quarter worth approximately $139,000. Simplify Asset Management Inc. acquired a new position in Artiva Biotherapeutics during the 1st quarter worth approximately $150,000. OMERS ADMINISTRATION Corp acquired a new position in Artiva Biotherapeutics during the 4th quarter worth approximately $91,000. Finally, Marshall Wace LLP acquired a new position in Artiva Biotherapeutics during the 4th quarter worth approximately $341,000.

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.