Insider Selling: Artiva Biotherapeutics (NASDAQ:ARTV) Insider Sells $70,725.60 in Stock

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) insider Christopher Horan sold 10,340 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $6.84, for a total value of $70,725.60. Following the sale, the insider directly owned 312,744 shares in the company, valued at $2,139,168.96. The trade was a 3.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Artiva Biotherapeutics Trading Down 2.9%

ARTV stock opened at $6.80 on Friday. Artiva Biotherapeutics, Inc. has a 1-year low of $2.71 and a 1-year high of $14.53. The firm has a market cap of $332.45 million, a PE ratio of -2.06 and a beta of 2.40. The business’s 50-day moving average price is $9.89 and its two-hundred day moving average price is $9.25.

Artiva Biotherapeutics (NASDAQ:ARTV) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.63). On average, analysts forecast that Artiva Biotherapeutics, Inc. will post -2.62 earnings per share for the current year.

Institutional Investors Weigh In On Artiva Biotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new position in shares of Artiva Biotherapeutics during the 2nd quarter worth about $144,000. Spark Investment Management LLC acquired a new stake in shares of Artiva Biotherapeutics in the second quarter valued at about $160,000. Alyeska Investment Group L.P. increased its position in shares of Artiva Biotherapeutics by 173.6% in the second quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company’s stock valued at $2,654,000 after acquiring an additional 173,615 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Artiva Biotherapeutics during the second quarter worth about $2,910,000. Finally, 5AM Venture Management LLC bought a new stake in Artiva Biotherapeutics during the second quarter worth about $22,827,049.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 target price on shares of Artiva Biotherapeutics in a report on Friday, October 2nd. HC Wainwright reiterated a “buy” rating on shares of Artiva Biotherapeutics in a report on Friday, October 2nd. Wall Street Zen raised shares of Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed 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 given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Artiva Biotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $39.00.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc (NASDAQ:ARTV) is a clinical-stage biotechnology company developing allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is designed to produce off-the-shelf cell therapies that can be manufactured at scale and administered without using cells collected from each individual patient.

Artiva’s lead investigational product, AlloNK, also known as AB-101, is an allogeneic NK cell therapy being evaluated in combination with rituximab for autoimmune conditions, including systemic lupus erythematosus and lupus nephritis.