Cantor Fitzgerald Boosts Artiva Biotherapeutics (NASDAQ:ARTV) Price Target to $40.00

Key Points

• Cantor Fitzgerald raised its price target on Artiva Biotherapeutics from $10 to $40 and kept an overweight rating, implying about 252% upside from the prior close.
• Other analysts were also mostly bullish, with Wedbush and HC Wainwright lifting their targets to $40 and $35, respectively, while the consensus rating on the stock is now Moderate Buy with an average target of $33.25.
• The stock rose 4.4% to $11.37 in Monday trading, but the company recently reported a Q1 EPS loss of $0.95, missing estimates by $0.07 per share.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) had its target price hoisted by research analysts at Cantor Fitzgerald from $10.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target points to a potential upside of 251.80% from the stock's current price.

Several other equities research analysts have also commented on ARTV. Wall Street Zen upgraded Artiva Biotherapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Wedbush upped their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an "outperform" rating in a research report on Monday. Needham & Company LLC restated a "buy" rating and issued a $18.00 price objective on shares of Artiva Biotherapeutics in a research report on Monday, May 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Artiva Biotherapeutics in a research report on Friday, April 24th. Finally, HC Wainwright upped their price objective on Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Artiva Biotherapeutics Trading Up 4.4%

Artiva Biotherapeutics stock traded up $0.48 during mid-day trading on Monday, hitting $11.37. The company had a trading volume of 199,153 shares, compared to its average volume of 281,670. Artiva Biotherapeutics has a 12-month low of $1.47 and a 12-month high of $14.53. The company's fifty day moving average is $7.59 and its 200-day moving average is $5.35. The company has a market capitalization of $281.03 million, a price-to-earnings ratio of -3.23 and a beta of 2.86.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). As a group, sell-side analysts expect that Artiva Biotherapeutics will post -3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ARTV. Prelude Capital Management LLC purchased a new position in shares of Artiva Biotherapeutics during the 3rd quarter valued at approximately $41,000. Bank of America Corp DE lifted its holdings 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 purchasing an additional 11,190 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in Artiva Biotherapeutics in the 2nd quarter valued at $53,000. Qube Research & Technologies Ltd purchased a new position in Artiva Biotherapeutics in the 2nd quarter valued at $58,000. Finally, Jane Street Group LLC purchased a new position in Artiva Biotherapeutics in the 2nd quarter valued at $67,000.

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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