Artiva Biotherapeutics (NASDAQ:ARTV) Trading 8% Higher - Here's What Happened

Key Points

• Artiva Biotherapeutics' stock price increased by 8% to $4.84 after trading as high as $4.96, although trading volume saw a 90% decline from its average.
• Analysts show mixed sentiments with 4 ratings as Buy and 1 as Sell, while the average target price stands at $18.25.
• CEO Fred Aslan recently sold 25,500 shares at an average price of $6.00, reducing his ownership by 6.67% to 356,721 shares.

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV - Get Free Report)'s share price traded up 8% on Thursday . The company traded as high as $4.96 and last traded at $4.84. 632,896 shares traded hands during trading, a decline of 90% from the average session volume of 6,408,509 shares. The stock had previously closed at $4.48.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ARTV shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Artiva Biotherapeutics in a research note on Wednesday, October 8th. Wedbush lifted their target price on shares of Artiva Biotherapeutics from $18.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, October 17th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Artiva Biotherapeutics in a research report on Friday, October 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.25.

Artiva Biotherapeutics Trading Up 8.0%

The stock's fifty day moving average price is $3.08 and its 200 day moving average price is $2.49.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.03). As a group, sell-side analysts forecast that Artiva Biotherapeutics, Inc. will post -4.95 EPS for the current year.

Insider Activity

In other news, CEO Fred Aslan sold 25,500 shares of the stock in a transaction on Friday, October 17th. The shares were sold at an average price of $6.00, for a total value of $153,000.00. Following the completion of the sale, the chief executive officer directly owned 356,721 shares of the company's stock, valued at $2,140,326. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in Artiva Biotherapeutics by 26.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 54,881 shares of the company's stock valued at $165,000 after acquiring an additional 11,355 shares in the last quarter. Marshall Wace LLP bought a new stake in Artiva Biotherapeutics during the 2nd quarter valued at about $79,000. Nuveen LLC bought a new stake in Artiva Biotherapeutics during the 1st quarter valued at about $144,000. Jane Street Group LLC bought a new stake in Artiva Biotherapeutics during the 2nd quarter valued at about $67,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Artiva Biotherapeutics in the 2nd quarter valued at about $58,000.

Artiva Biotherapeutics Company Profile

Artiva Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing natural killer (NK) cell-based therapies for patients suffering from autoimmune diseases and cancers. The company's lead product candidate is AB-101, an off-the-shelf NK cell therapy for patients with autoimmune diseases and cancers, such as lupus nephritis, rheumatoid arthritis, pemphigus vulgaris, the anti-neutrophil cytoplasmic antibody-associated vasculitis subtypes granulomatosis with polyangiitis/microscopic polyangiitis, systemic lupus erythematosus, and B-cell-non-Hodgkin lymphoma.

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