Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Stock Has Consensus Target Price of $39.00 According to Brokerages

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $39.00.

A number of equities analysts have issued reports on ARTV shares. HC Wainwright reiterated a “buy” rating on shares of Artiva Biotherapeutics in a report on Friday, October 2nd. Wall Street Zen upgraded Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price objective on shares of Artiva Biotherapeutics in a report on Friday, October 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, July 21st.

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. purchased 24,944 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $9.93 per share, for a total transaction of $247,693.92. Following the completion of the acquisition, the director owned 17,329,570 shares of the company’s stock, valued at approximately $172,082,630.10. This represents a 0.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Horan sold 10,340 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $6.84, for a total transaction of $70,725.60. Following the completion of the transaction, the insider owned 312,744 shares of the company’s stock, valued at approximately $2,139,168.96. This trade represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders acquired 351,673 shares of company stock valued at $3,451,817 and sold 137,048 shares valued at $1,086,167. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Artiva Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 5AM Venture Management LLC bought a new stake in shares of Artiva Biotherapeutics in the 2nd quarter valued at $22,827,049. Blue Owl Capital Holdings LP bought a new stake in Artiva Biotherapeutics in the 2nd quarter valued at about $8,483,000. BlackRock Inc. acquired a new position in shares of Artiva Biotherapeutics during the second quarter worth approximately $6,739,000. Nantahala Capital Management LLC bought a new position in shares of Artiva Biotherapeutics in the second quarter valued at $2,910,000. Finally, Alyeska Investment Group L.P. boosted its stake in Artiva Biotherapeutics by 173.6% during the 2nd quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company’s stock valued at $2,654,000 after purchasing an additional 173,615 shares during the last quarter.

Artiva Biotherapeutics Trading Down 4.0%

Shares of NASDAQ:ARTV traded down $0.27 during trading on Tuesday, hitting $6.50. 42,003 shares of the company’s stock were exchanged, compared to its average volume of 389,862. The firm has a 50-day moving average price of $9.75 and a two-hundred day moving average price of $9.27. The firm has a market cap of $317.59 million, a P/E ratio of -1.97 and a beta of 2.40. Artiva Biotherapeutics has a 1-year low of $2.71 and a 1-year high of $14.53.

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

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.