Ra Capital Management, L.P. Purchases 479,039 Shares of Artiva Biotherapeutics (NASDAQ:ARTV) Stock

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Director Ra Capital Management, L.P. acquired 479,039 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $6.91 per share, for a total transaction of $3,310,159.49. Following the completion of the purchase, the director owned 15,683,034 shares of the company’s stock, valued at $108,369,764.94. This trade represents a 3.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Thursday, June 11th, Ra Capital Management, L.P. bought 548,580 shares of Artiva Biotherapeutics stock. The stock was purchased at an average cost of $7.91 per share, for a total transaction of $4,339,267.80.
• On Wednesday, June 10th, Ra Capital Management, L.P. acquired 103 shares of Artiva Biotherapeutics stock. The shares were acquired at an average price of $7.00 per share, for a total transaction of $721.00.
• On Monday, May 11th, Ra Capital Management, L.P. purchased 6,510,416 shares of Artiva Biotherapeutics stock. The shares were acquired at an average cost of $11.52 per share, for a total transaction of $74,999,992.32.

Artiva Biotherapeutics Price Performance

Artiva Biotherapeutics stock traded up $0.58 during midday trading on Thursday, hitting $8.00. 1,059,213 shares of the company were exchanged, compared to its average volume of 488,136. Artiva Biotherapeutics, Inc. has a fifty-two week low of $1.47 and a fifty-two week high of $14.53. The company’s fifty day moving average price is $8.89 and its 200-day moving average price is $6.12. The company has a market cap of $197.76 million, a PE ratio of -2.26 and a beta of 2.38.

Artiva Biotherapeutics (NASDAQ:ARTV) last issued 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, analysts expect that Artiva Biotherapeutics, Inc. will post -2.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARTV. Citadel Advisors LLC boosted its stake in Artiva Biotherapeutics by 419.3% during the 3rd quarter. Citadel Advisors LLC now owns 798,397 shares of the company’s stock valued at $2,291,000 after purchasing an additional 644,658 shares during the period. BNP Paribas Financial Markets grew its position in Artiva Biotherapeutics by 14,463.5% in the third quarter. BNP Paribas Financial Markets now owns 118,547 shares of the company’s stock valued at $340,000 after acquiring an additional 117,733 shares during the period. Marshall Wace LLP acquired a new position in Artiva Biotherapeutics in the fourth quarter valued at about $341,000. Jane Street Group LLC bought a new position in Artiva Biotherapeutics in the 2nd quarter valued at $67,000. Finally, Landscape Capital Management L.L.C. bought a new position in Artiva Biotherapeutics in the 3rd quarter valued at $112,000.

Analyst Ratings Changes

Several analysts have weighed in on ARTV shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, May 26th. HC Wainwright increased their price objective on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the company a “buy” rating in a report on Friday, May 8th. Needham & Company LLC reissued a “buy” rating and set a $41.00 target price on shares of Artiva Biotherapeutics in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Friday, April 24th. Finally, Wedbush raised their target price on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Artiva Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

About Artiva Biotherapeutics

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.