Artiva Biotherapeutics’ (ARTV) “Buy” Rating Reaffirmed at Needham & Company LLC

Artiva Biotherapeutics (NASDAQ:ARTV)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $41.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 492.40% from the stock’s current price.

Several other research firms also recently weighed in on ARTV. HC Wainwright raised their price target on Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Friday, April 24th. Wall Street Zen downgraded Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Artiva Biotherapeutics in a research report on Tuesday, May 26th. Finally, Wedbush lifted their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Artiva Biotherapeutics Price Performance

Artiva Biotherapeutics stock traded up $0.07 during mid-day trading on Monday, hitting $6.92. 308,960 shares of the company were exchanged, compared to its average volume of 321,188. The business’s 50 day simple moving average is $8.74 and its two-hundred day simple moving average is $6.01. The company has a market capitalization of $171.07 million, a P/E ratio of -1.96 and a beta of 2.38. Artiva Biotherapeutics has a 12-month low of $1.47 and a 12-month high of $14.53.

Artiva Biotherapeutics (NASDAQ:ARTV) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). Equities research analysts predict that Artiva Biotherapeutics will post -2.45 earnings per share for the current year.

Insider Activity

In other Artiva Biotherapeutics news, COO Jennifer Bush sold 8,790 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $9.01, for a total transaction of $79,197.90. Following the completion of the sale, the chief operating officer owned 337,920 shares of the company’s stock, valued at approximately $3,044,659.20. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Subhashis Banerjee sold 7,037 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $9.01, for a total value of $63,403.37. Following the sale, the insider directly owned 144,963 shares of the company’s stock, valued at approximately $1,306,116.63. This trade represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have bought 7,942,707 shares of company stock valued at $91,499,985 and have sold 53,040 shares valued at $477,890. 21.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Artiva Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new stake in Artiva Biotherapeutics during the first quarter valued at about $131,000. Sanctuary Advisors LLC purchased a new stake in Artiva Biotherapeutics during the first quarter valued at about $139,000. Simplify Asset Management Inc. purchased a new stake in shares of Artiva Biotherapeutics in the first quarter worth about $150,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Artiva Biotherapeutics in the fourth quarter worth about $91,000. Finally, Marshall Wace LLP purchased a new stake in shares of Artiva Biotherapeutics in the fourth quarter worth about $341,000.

Artiva Biotherapeutics Company Profile

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.