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

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued on Friday, Marketbeat.com reports. They presently have a $40.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 484.88% from the stock’s current price.

A number of other research firms also recently issued reports on ARTV. Wall Street Zen raised shares of Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Artiva Biotherapeutics in a report on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Tuesday, July 21st. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Artiva Biotherapeutics Price Performance

NASDAQ:ARTV traded up $0.05 during trading hours on Friday, hitting $6.84. The stock had a trading volume of 200,226 shares, compared to its average volume of 389,629. The company has a 50 day simple moving average of $10.21 and a two-hundred day simple moving average of $9.21. Artiva Biotherapeutics has a one year low of $2.71 and a one year high of $14.53. The firm has a market capitalization of $334.36 million, a price-to-earnings ratio of -2.07 and a beta of 2.41.

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

Insiders Place Their Bets

In other Artiva Biotherapeutics news, Director Ra Capital Management, L.P. purchased 24,944 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of $9.93 per share, with a total value of $247,693.92. Following the completion of the purchase, the director directly owned 17,329,570 shares of the company’s stock, valued at approximately $172,082,630.10. This trade represents a 0.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Subhashis Banerjee sold 8,222 shares of the business’s 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 completion of the sale, the insider directly owned 142,047 shares of the company’s stock, valued at $1,705,984.47. This represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 373,327 shares of company stock valued at $3,645,857 and sold 32,080 shares valued at $359,739. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Artiva Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Artiva Biotherapeutics in the second quarter worth $6,739,000. ADAR1 Capital Management LLC bought a new stake in Artiva Biotherapeutics in the second quarter worth $1,151,000. Nantahala Capital Management LLC bought a new stake in Artiva Biotherapeutics in the second quarter worth $2,910,000. 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 period. Finally, Blue Owl Capital Holdings LP purchased a new position in shares of Artiva Biotherapeutics in 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.