Artiva Biotherapeutics (NASDAQ:ARTV) Earns Overweight Rating from Cantor Fitzgerald

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They presently have a $40.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 489.10% from the company’s current price.

A number of other research firms have also recently issued reports on ARTV. Wall Street Zen raised 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 price target on shares of Artiva Biotherapeutics in a research note 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 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Artiva Biotherapeutics Price Performance

Artiva Biotherapeutics stock opened at $6.79 on Friday. The company’s 50-day moving average is $10.21 and its 200-day moving average is $9.21. The firm has a market capitalization of $331.96 million, a PE ratio of -2.06 and a beta of 2.41. Artiva Biotherapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $14.53.

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

Insiders Place Their Bets

In other news, insider Subhashis Banerjee sold 8,222 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $12.01, for a total value of $98,746.22. Following the transaction, the insider owned 142,047 shares of the company’s stock, valued at approximately $1,705,984.47. This represents a 5.47% decrease in their ownership of the stock. The transaction 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. bought 24,944 shares of the stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $9.93 per share, for a total transaction of $247,693.92. Following the purchase, the director owned 17,329,570 shares of the company’s stock, valued at $172,082,630.10. This trade represents a 0.14% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 373,327 shares of company stock worth $3,645,857 and sold 32,080 shares worth $359,739. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Artiva Biotherapeutics during the second quarter worth $6,739,000. ADAR1 Capital Management LLC acquired a new position in shares of Artiva Biotherapeutics in the second quarter valued at about $1,151,000. Nantahala Capital Management LLC acquired a new position in shares of Artiva Biotherapeutics in the second quarter valued at about $2,910,000. Alyeska Investment Group L.P. increased its position 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 worth $2,654,000 after acquiring an additional 173,615 shares during the period. Finally, Blue Owl Capital Holdings LP acquired a new stake in Artiva Biotherapeutics in the 2nd quarter worth about $8,483,000.

Artiva Biotherapeutics Company Profile

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.