Artiva Biotherapeutics (NASDAQ:ARTV) Downgraded by Needham & Company LLC to “Hold”

Artiva Biotherapeutics (NASDAQ:ARTV) was downgraded by equities research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports.

Other analysts also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price objective on shares of Artiva Biotherapeutics in a research report on Friday, October 2nd. Wall Street Zen upgraded Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Wedbush reiterated a “neutral” rating and issued a $4.00 target price on shares of Artiva Biotherapeutics in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Monday, October 19th. Finally, HC Wainwright reissued a “buy” rating on shares of Artiva Biotherapeutics in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Artiva Biotherapeutics currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Artiva Biotherapeutics Trading Down 31.7%

NASDAQ ARTV traded down $1.96 on Tuesday, hitting $4.21. 4,586,429 shares of the company’s stock were exchanged, compared to its average volume of 414,274. The stock has a 50-day moving average of $8.80 and a 200-day moving average of $7.96. Artiva Biotherapeutics has a 52 week low of $2.96 and a 52 week high of $14.53. The stock has a market cap of $205.58 million, a price-to-earnings ratio of -1.26 and a beta of 2.40.

Artiva Biotherapeutics (NASDAQ:ARTV) last issued its earnings results on Thursday, August 6th. The company reported ($0.63) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.63). As a group, analysts predict that Artiva Biotherapeutics will post -2.62 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Subhashis Banerjee sold 8,222 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $12.01, for a total value of $98,746.22. Following the completion of the sale, the insider owned 142,047 shares of the company’s stock, valued at approximately $1,705,984.47. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. bought 24,944 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $9.93 per share, with a total value of $247,693.92. Following the transaction, the director directly owned 17,329,570 shares in the company, valued at approximately $172,082,630.10. This trade represents a 0.14% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 137,048 shares of company stock valued at $1,086,167 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ARTV. State of Wyoming acquired a new position in shares of Artiva Biotherapeutics in the 2nd quarter valued at about $45,000. Dimensional Fund Advisors LP acquired a new stake in Artiva Biotherapeutics during the first quarter worth approximately $131,000. Sanctuary Advisors LLC acquired a new stake in Artiva Biotherapeutics during the first quarter worth approximately $139,000. Squarepoint Ops LLC acquired a new stake in Artiva Biotherapeutics during the second quarter worth approximately $144,000. Finally, Simplify Asset Management Inc. acquired a new stake in Artiva Biotherapeutics during the first quarter worth approximately $150,000.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company developing off-the-shelf, allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is intended to provide readily available cell-based treatments that can be manufactured in advance and administered without using each patient’s own cells.

Artiva’s lead product candidate is AlloNK, also known as AB-101, an allogeneic NK cell therapy derived from umbilical cord blood. The company is evaluating AlloNK in combination with antibody treatments, including rituximab, for conditions such as B-cell malignancies and autoimmune diseases.