Jennifer Bush Sells 8,790 Shares of Artiva Biotherapeutics (NASDAQ:ARTV) Stock

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) COO Jennifer Bush sold 8,790 shares of the firm’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 completion of the transaction, the chief operating officer directly owned 337,920 shares of the company’s stock, valued at $3,044,659.20. This represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Artiva Biotherapeutics Trading Down 7.3%

ARTV stock traded down $0.67 during midday trading on Tuesday, reaching $8.55. The company had a trading volume of 844,679 shares, compared to its average volume of 581,930. Artiva Biotherapeutics, Inc. has a 1 year low of $1.47 and a 1 year high of $14.53. The company has a market capitalization of $211.36 million, a P/E ratio of -2.42 and a beta of 2.86. The company has a 50 day moving average of $8.32 and a two-hundred day moving average of $5.65.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Artiva Biotherapeutics from $10.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. HC Wainwright increased their target price on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Needham & Company LLC increased their target price on shares of Artiva Biotherapeutics from $18.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Friday, April 24th. Finally, Wedbush raised their price target on shares of Artiva Biotherapeutics from $23.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Prelude Capital Management LLC bought a new position in shares of Artiva Biotherapeutics during the 3rd quarter valued at $41,000. Bank of America Corp DE raised its holdings in Artiva Biotherapeutics by 225.8% in the 3rd quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock worth $46,000 after acquiring an additional 11,190 shares during the period. Bridgeway Capital Management LLC bought a new position in Artiva Biotherapeutics in the 2nd quarter worth $53,000. Qube Research & Technologies Ltd bought a new position in Artiva Biotherapeutics in the 2nd quarter worth $58,000. Finally, Jane Street Group LLC bought a new position in Artiva Biotherapeutics in the 2nd quarter worth $67,000.

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.