Artiva Biotherapeutics (NASDAQ:ARTV) Trading Down 1.7% - Here's What Happened

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV - Get Free Report)'s share price was down 1.7% on Tuesday . The stock traded as low as $2.80 and last traded at $2.87. Approximately 60,863 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 115,155 shares. The stock had previously closed at $2.92.

Analysts Set New Price Targets

Separately, HC Wainwright raised shares of Artiva Biotherapeutics to a "buy" rating and set a $12.00 price objective on the stock in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Artiva Biotherapeutics has an average rating of "Buy" and a consensus target price of $17.00.

Artiva Biotherapeutics Trading Down 1.7%

The stock's 50-day simple moving average is $2.88 and its 200 day simple moving average is $2.51.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.03). On average, equities research analysts expect that Artiva Biotherapeutics, Inc. will post -4.95 EPS for the current fiscal year.

Insider Buying and Selling at Artiva Biotherapeutics

In other news, CEO Fred Aslan sold 25,500 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $2.73, for a total transaction of $69,615.00. Following the transaction, the chief executive officer owned 386,693 shares in the company, valued at approximately $1,055,671.89. This represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.40% of the company's stock.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG acquired a new stake in shares of Artiva Biotherapeutics in the 4th quarter worth about $216,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Artiva Biotherapeutics by 26.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 54,881 shares of the company's stock worth $165,000 after acquiring an additional 11,355 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Artiva Biotherapeutics in the 1st quarter worth about $144,000. Marshall Wace LLP acquired a new stake in shares of Artiva Biotherapeutics in the 2nd quarter worth about $79,000. Finally, Jane Street Group LLC acquired a new stake in shares of Artiva Biotherapeutics in the 2nd quarter worth about $67,000.

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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