Artiva Biotherapeutics (NASDAQ:ARTV) Stock Dropped to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Artiva Biotherapeutics to “sell” from “hold,” while the broader analyst consensus remains “hold.” Ratings include two Buys, four Holds and one Sell, with a consensus price target of $24.80.
• ARTV opened at $4.19, well below its 50-day and 200-day moving averages of $8.11 and $7.96, respectively. The stock’s 12-month trading range is $2.96 to $14.53.
• Artiva reported a quarterly loss of $0.63 per share, in line with estimates, and analysts expect a full-year loss of $2.71 per share. Insiders sold 137,048 shares worth about $1.09 million over the past 90 days, although several institutional investors recently established or increased positions.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC cut Artiva Biotherapeutics from a "buy" rating to a "hold" rating in a report on Tuesday. HC Wainwright reaffirmed a "buy" rating on shares of Artiva Biotherapeutics in a research note on Friday, October 2nd. Jefferies Financial Group cut Artiva Biotherapeutics from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a research note on Thursday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $40.00 price target on shares of Artiva Biotherapeutics in a research report on Friday, October 2nd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Artiva Biotherapeutics in a research note on Monday, October 19th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $24.80.

Artiva Biotherapeutics Price Performance

ARTV stock opened at $4.19 on Friday. The business's fifty day moving average is $8.11 and its 200-day moving average is $7.96. Artiva Biotherapeutics has a twelve month low of $2.96 and a twelve month high of $14.53.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.63) EPS for the quarter, hitting analysts' consensus estimates of ($0.63). On average, equities research analysts forecast that Artiva Biotherapeutics will post -2.71 EPS for the current year.

Insider Activity at Artiva Biotherapeutics

In related news, CEO Fred Aslan sold 61,696 shares of the firm's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $6.84, for a total transaction of $422,000.64. Following the sale, the chief executive officer directly owned 1,543,069 shares in the company, valued at $10,554,591.96. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Subhashis Banerjee sold 8,222 shares of the business's stock in a transaction on 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 SEC filing for this sale provides additional information. Insiders have sold 137,048 shares of company stock worth $1,086,167 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Artiva Biotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARTV. 5AM Venture Management LLC bought a new position in Artiva Biotherapeutics during the second quarter worth about $22,827,049. Blue Owl Capital Holdings LP acquired a new position in Artiva Biotherapeutics during the second quarter worth approximately $8,483,000. BlackRock Inc. acquired a new position in Artiva Biotherapeutics during the second quarter worth approximately $6,739,000. Nantahala Capital Management LLC acquired a new position in Artiva Biotherapeutics during the second quarter worth approximately $2,910,000. Finally, Alyeska Investment Group L.P. raised its stake in Artiva Biotherapeutics by 173.6% in the second quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company's stock valued at $2,654,000 after buying an additional 173,615 shares during the period.

Artiva Biotherapeutics Company Profile

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.

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