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

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report issued on Friday, Marketbeat.com reports. They presently have a $40.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 491.72% from the stock’s current price.

Several other research firms have also recently commented on ARTV. Wall Street Zen upgraded Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Artiva Biotherapeutics in a research report on Monday, June 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Artiva Biotherapeutics Price Performance

ARTV opened at $6.76 on Friday. Artiva Biotherapeutics has a 12 month low of $2.71 and a 12 month high of $14.53. The stock has a market cap of $330.50 million, a P/E ratio of -2.11 and a beta of 2.41. The stock’s 50 day moving average price is $10.21 and its 200 day moving average price is $9.21.

Artiva Biotherapeutics (NASDAQ:ARTV) last posted its earnings results on Thursday, August 6th. The company reported ($0.63) EPS for the quarter, meeting the consensus estimate of ($0.63). Equities analysts anticipate that Artiva Biotherapeutics will post -2.62 EPS for the current year.

Insider Activity

In other news, insider Subhashis Banerjee sold 8,222 shares of Artiva Biotherapeutics stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $12.01, for a total transaction of $98,746.22. Following the transaction, the insider directly owned 142,047 shares in the company, valued at approximately $1,705,984.47. This trade represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ra Capital Management, L.P. purchased 120,582 shares of the stock in a transaction dated Tuesday, July 21st. The shares were purchased at an average price of $9.55 per share, for a total transaction of $1,151,558.10. Following the completion of the transaction, the director owned 17,098,479 shares in the company, valued at $163,290,474.45. This trade represents a 0.71% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 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 owned by insiders.

Institutional Trading of Artiva Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Artiva Biotherapeutics during the second quarter worth $6,739,000. ADAR1 Capital Management LLC bought a new position in Artiva Biotherapeutics during the second quarter valued at about $1,151,000. Nantahala Capital Management LLC bought a new position in Artiva Biotherapeutics during the second quarter valued at about $2,910,000. Alyeska Investment Group L.P. raised its holdings in Artiva Biotherapeutics by 173.6% during the second quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company’s stock valued at $2,654,000 after buying an additional 173,615 shares in the last quarter. Finally, Blue Owl Capital Holdings LP bought a new position in Artiva Biotherapeutics during the second quarter valued at about $8,483,000.

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.