Artiva Biotherapeutics (NASDAQ:ARTV) Earns "Buy" Rating from Needham & Company LLC

Key Points

• Needham & Company reiterated a Buy rating on Artiva with an $18 price target, implying roughly a 66.7% upside from the current price.
• Analyst sentiment is mixed but leans positive with a consensus of Moderate Buy and an average target of $18.67 (one Strong Buy, three Buy, one Sell).
• Shares opened at $10.80, trade in a 1-year range of $1.47–$14.53, have a market cap of about $267 million, and the company reports negative earnings (trailing EPS -$0.84; FY EPS forecast ~-3.33).

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They currently have a $18.00 price objective on the stock. Needham & Company LLC's price target points to a potential upside of 66.67% from the company's current price.

A number of other equities analysts have also recently issued reports on ARTV. Weiss Ratings reissued a "sell (d-)" rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. Wall Street Zen cut Artiva Biotherapeutics from a "hold" rating to a "sell" rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.67.

Artiva Biotherapeutics Stock Performance

Shares of ARTV opened at $10.80 on Monday. Artiva Biotherapeutics has a 1 year low of $1.47 and a 1 year high of $14.53. The stock has a 50 day simple moving average of $7.17 and a 200-day simple moving average of $5.18. The stock has a market cap of $266.98 million, a PE ratio of -3.16 and a beta of 2.86.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last issued its earnings results on Tuesday, March 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.87) by $0.03. On average, sell-side analysts forecast that Artiva Biotherapeutics will post -3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Artiva Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ARTV. Prelude Capital Management LLC acquired a new stake in Artiva Biotherapeutics during the 3rd quarter valued at $41,000. Bank of America Corp DE boosted its position in Artiva Biotherapeutics by 225.8% in the 3rd quarter. Bank of America Corp DE now owns 16,145 shares of the company's stock valued at $46,000 after buying an additional 11,190 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in Artiva Biotherapeutics in the 2nd quarter valued at $53,000. Qube Research & Technologies Ltd bought a new position in Artiva Biotherapeutics in the 2nd quarter valued at $58,000. Finally, Jane Street Group LLC bought a new position in Artiva Biotherapeutics in the 2nd quarter valued at $67,000.

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.

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