Cantor Fitzgerald Reaffirms Overweight Rating for Artiva Biotherapeutics (NASDAQ:ARTV)

Key Points

• Cantor Fitzgerald reaffirmed its Overweight rating on Artiva Biotherapeutics and maintained a $40 price target, implying 489.1% potential upside from the stock’s $6.79 opening price.
• Analyst sentiment is broadly positive, with Artiva carrying a “Moderate Buy” consensus rating and an average target price of $39.00, despite ratings ranging from Strong Buy to Sell.
• Artiva reported a quarterly loss of $0.63 per share, matching estimates, while insider activity was mixed: insiders made net purchases over the past three months, although one executive sold shares.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report)'s stock had its "overweight" rating reaffirmed by research analysts at Cantor Fitzgerald in a report issued on Friday, Benzinga reports. They currently have a $40.00 price objective on the stock. Cantor Fitzgerald's price target points to a potential upside of 489.10% from the stock's current price.

Several other research analysts have also issued reports on ARTV. Weiss Ratings reiterated a "sell (d-)" rating on shares of Artiva Biotherapeutics in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Artiva Biotherapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $41.00 target price on shares of Artiva Biotherapeutics in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Artiva Biotherapeutics presently has an average rating of "Moderate Buy" and an average target price of $39.00.

Artiva Biotherapeutics Price Performance

Shares of NASDAQ:ARTV opened at $6.79 on Friday. The firm has a fifty day moving average price of $10.21 and a two-hundred day moving average price of $9.21. Artiva Biotherapeutics has a one year low of $2.71 and a one year high of $14.53. The company has a market cap of $331.96 million, a price-to-earnings ratio of -2.06 and a beta of 2.41.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) 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 expect that Artiva Biotherapeutics will post -2.62 EPS for the current fiscal year.

Insider Buying and Selling at Artiva Biotherapeutics

In other Artiva Biotherapeutics news, insider Subhashis Banerjee sold 8,222 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were 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 in the company, valued at $1,705,984.47. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. purchased 24,944 shares of the business's stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $9.93 per share, with a total value of $247,693.92. Following the completion of the transaction, the director 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 ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 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 Trading of Artiva Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in the business. State of Wyoming purchased a new stake in Artiva Biotherapeutics during the second quarter valued at about $45,000. Squarepoint Ops LLC purchased a new stake in Artiva Biotherapeutics during the second quarter valued at about $144,000. Spark Investment Management LLC purchased a new stake in Artiva Biotherapeutics during the second quarter valued at about $160,000. Dimensional Fund Advisors LP purchased a new stake in Artiva Biotherapeutics during the first quarter valued at about $131,000. Finally, Sanctuary Advisors LLC purchased a new stake in Artiva Biotherapeutics during the first quarter valued at about $139,000.

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.