Artiva Biotherapeutics' (ARTV) Neutral Rating Reaffirmed at Wedbush

Key Points

• Wedbush reaffirmed its “neutral” rating on Artiva Biotherapeutics, maintaining a $4.00 price target—about 4.2% below the stock’s reported $4.18 price.
• Analyst opinion remains mixed, though MarketBeat’s consensus is “Moderate Buy” with an average price target of $30.00; ratings range from Strong Buy to Sell.
• Artiva shares fell sharply to $4.18 during Tuesday trading, while the company reported a quarterly loss of $0.63 per share and analysts project a full-year loss of $2.62 per share.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report)'s stock had its "neutral" rating reiterated by Wedbush in a research report issued on Tuesday, Benzinga reports. They currently have a $4.00 price target on the stock. Wedbush's price objective would suggest a potential downside of 4.19% from the stock's current price.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Artiva Biotherapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. HC Wainwright reaffirmed a "buy" rating on shares of Artiva Biotherapeutics in a research note on Friday, October 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Artiva Biotherapeutics in a research note on Monday, October 19th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $40.00 price objective on shares of Artiva Biotherapeutics in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $30.00.

Artiva Biotherapeutics Stock Performance

Shares of Artiva Biotherapeutics stock traded down $1.99 during trading on Tuesday, hitting $4.18. 4,543,335 shares of the stock were exchanged, compared to its average volume of 414,274. The stock's fifty day moving average is $8.80 and its 200 day moving average is $7.96. The stock has a market cap of $204.12 million, a PE ratio of -1.27 and a beta of 2.40. Artiva Biotherapeutics has a 12 month low of $2.96 and a 12 month high of $14.53.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.63). Sell-side analysts anticipate that Artiva Biotherapeutics will post -2.62 EPS for the current fiscal year.

Insider Activity

In other Artiva Biotherapeutics news, insider Christopher Horan sold 10,340 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $6.84, for a total transaction of $70,725.60. Following the transaction, the insider owned 312,744 shares in the company, valued at $2,139,168.96. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ra Capital Management, L.P. purchased 24,944 shares of the stock in a transaction on Friday, July 31st. The shares were bought at an average price of $9.93 per share, for a total transaction of $247,693.92. Following the acquisition, the director owned 17,329,570 shares of the company's stock, valued at approximately $172,082,630.10. The trade was a 0.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 137,048 shares of company stock valued at $1,086,167. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Artiva Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ARTV. State of Wyoming acquired a new stake in shares of Artiva Biotherapeutics in the second quarter worth $45,000. Dimensional Fund Advisors LP acquired a new stake in shares of Artiva Biotherapeutics in the first quarter worth $131,000. Sanctuary Advisors LLC acquired a new stake in shares of Artiva Biotherapeutics in the first quarter worth $139,000. Squarepoint Ops LLC acquired a new stake in shares of Artiva Biotherapeutics in the second quarter worth $144,000. Finally, Simplify Asset Management Inc. acquired a new stake in shares of Artiva Biotherapeutics in the first quarter worth $150,000.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company developing off-the-shelf, allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company's approach is intended to provide readily available cell-based treatments that can be manufactured in advance and administered without using each patient's own cells.

Artiva's lead product candidate is AlloNK, also known as AB-101, an allogeneic NK cell therapy derived from umbilical cord blood. The company is evaluating AlloNK in combination with antibody treatments, including rituximab, for conditions such as B-cell malignancies and autoimmune diseases.