Artiva Biotherapeutics (NASDAQ:ARTV) Stock Price Up 5.7% - Still a Buy?

Key Points

• Artiva Biotherapeutics shares rose 5.7% to about $11.56, although trading volume was 58% below the average session volume.
• Analyst sentiment is mostly positive, with a consensus rating of “Moderate Buy” and an average price target of $39.00; targets range from $35 to $41, despite one “Sell” rating.
• The clinical-stage biotech reported a quarterly loss of $0.63 per share, while insiders bought nearly 2 million shares worth approximately $16.2 million over the past 90 days.

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV - Get Free Report)'s stock price was up 5.7% during mid-day trading on Monday . The stock traded as high as $11.55 and last traded at $11.5560. 160,571 shares traded hands during trading, a decline of 58% from the average session volume of 382,233 shares. The stock had previously closed at $10.93.

Analyst Ratings Changes

ARTV has been the topic of several recent research reports. Wedbush raised their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Artiva Biotherapeutics in a report on Tuesday, July 21st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Artiva Biotherapeutics in a report on Tuesday, May 26th. HC Wainwright upped their price target on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $41.00 price objective on shares of Artiva Biotherapeutics in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Artiva Biotherapeutics presently has an average rating of "Moderate Buy" and an average target price of $39.00.

Artiva Biotherapeutics Trading Up 5.7%

The firm's 50-day moving average price is $10.17 and its 200-day moving average price is $8.25. The stock has a market capitalization of $564.97 million, a PE ratio of -3.50 and a beta of 2.16.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last released its quarterly earnings results 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 predict that Artiva Biotherapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ra Capital Management, L.P. purchased 548,580 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $7.91 per share, for a total transaction of $4,339,267.80. Following the completion of the purchase, the director owned 16,231,717 shares in the company, valued at approximately $128,392,881.47. This represents a 3.50% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders acquired 1,965,251 shares of company stock worth $16,188,035. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Artiva Biotherapeutics

A number of large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. lifted its stake in shares of Artiva Biotherapeutics by 173.6% during the 2nd quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company's stock worth $2,654,000 after purchasing an additional 173,615 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in shares of Artiva Biotherapeutics in the 2nd quarter worth $2,910,000,000. 5AM Venture Management LLC purchased a new position in Artiva Biotherapeutics during the 2nd quarter worth $22,827,049,000. ADAR1 Capital Management LLC purchased a new position in Artiva Biotherapeutics during the 2nd quarter worth $1,151,000. Finally, Blue Owl Capital Holdings LP acquired a new position in Artiva Biotherapeutics during the 2nd quarter valued at about $8,483,000.

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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