Artiva Biotherapeutics (NASDAQ:ARTV) Price Target Raised to $40.00

Key Points

• Wedbush raised its price target on Artiva Biotherapeutics from $23 to $40 and kept an outperform rating, implying significant upside from the current share price.
• Analyst sentiment is mixed overall: the stock currently has a Moderate Buy consensus with an average target of $31, while recent calls ranged from buy ratings to a sell rating.
• Artiva Biotherapeutics reported a Q1 EPS loss of $0.95, missing estimates, and the stock traded at $10.89 with a market cap of about $269.2 million.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) had its price objective lifted by equities researchers at Wedbush from $23.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price target would indicate a potential upside of 267.31% from the company's current price.

ARTV has been the topic of a number of other reports. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price target on shares of Artiva Biotherapeutics in a report on Monday, May 4th. HC Wainwright upped their price target on Artiva Biotherapeutics from $15.00 to $35.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen raised Artiva Biotherapeutics from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Artiva Biotherapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Artiva Biotherapeutics Stock Performance

Artiva Biotherapeutics stock opened at $10.89 on Monday. The business's fifty day simple moving average is $7.59 and its two-hundred day simple moving average is $5.35. Artiva Biotherapeutics has a 12 month low of $1.47 and a 12 month high of $14.53. The company has a market capitalization of $269.20 million, a price-to-earnings ratio of -3.08 and a beta of 2.86.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). On average, equities research analysts predict that Artiva Biotherapeutics will post -3.33 EPS for the current year.

Institutional Trading of Artiva Biotherapeutics

A number of hedge funds have recently bought and sold shares of ARTV. Marshall Wace LLP purchased a new stake in Artiva Biotherapeutics during the second quarter valued at $79,000. Qube Research & Technologies Ltd purchased a new stake in Artiva Biotherapeutics during the second quarter valued at $58,000. Jane Street Group LLC purchased a new stake in Artiva Biotherapeutics during the second quarter valued at $67,000. Bridgeway Capital Management LLC purchased a new stake in Artiva Biotherapeutics during the second quarter valued at $53,000. Finally, BNP Paribas Financial Markets increased its position in Artiva Biotherapeutics by 14,463.5% during the third quarter. BNP Paribas Financial Markets now owns 118,547 shares of the company's stock valued at $340,000 after acquiring an additional 117,733 shares during the last quarter.

About Artiva Biotherapeutics

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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