Artiva Biotherapeutics (NASDAQ:ARTV) Insider Sells $70,725.60 in Stock

Key Points

• Insider sale: Christopher Horan sold 10,340 Artiva Biotherapeutics shares for $70,725.60 to cover tax withholding tied to vested equity awards, reducing his ownership by 3.2% to 312,744 shares.
• Stock performance: ARTV rose 2.0% to $7.27 in Tuesday trading, with a $355.43 million market capitalization and a 12-month trading range of $2.71 to $14.53.
• Analyst outlook: The stock has a consensus “Moderate Buy” rating and an average price target of $39.00, despite one sell rating. Several institutional investors, including 5AM Venture Management, Blue Owl Capital, and BlackRock, recently established positions.

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV - Get Free Report) insider Christopher Horan sold 10,340 shares of the business's stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $6.84, for a total transaction of $70,725.60. Following the completion of the sale, the insider owned 312,744 shares in the company, valued at approximately $2,139,168.96. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Artiva Biotherapeutics Stock Up 2.0%

ARTV stock traded up $0.14 during mid-day trading on Tuesday, hitting $7.27. 664,480 shares of the company were exchanged, compared to its average volume of 393,650. Artiva Biotherapeutics, Inc. has a 12-month low of $2.71 and a 12-month high of $14.53. The firm has a market capitalization of $355.43 million, a P/E ratio of -2.20 and a beta of 2.40. The business has a fifty day simple moving average of $10.09 and a 200-day simple moving average of $9.22.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.63). Research analysts predict that Artiva Biotherapeutics, Inc. will post -2.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARTV. Needham & Company LLC restated a "buy" rating and set a $41.00 price target on shares of Artiva Biotherapeutics in a research report on Monday, June 8th. Wall Street Zen upgraded Artiva Biotherapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Artiva Biotherapeutics in a report on Tuesday, July 21st. HC Wainwright restated a "buy" rating on shares of Artiva Biotherapeutics in a report on Friday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $40.00 target price on shares of Artiva Biotherapeutics in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 5AM Venture Management LLC purchased a new position in Artiva Biotherapeutics in the second quarter valued at $22,827,049. Blue Owl Capital Holdings LP purchased a new stake in Artiva Biotherapeutics during the 2nd quarter worth about $8,483,000. BlackRock Inc. purchased a new stake in Artiva Biotherapeutics during the 2nd quarter worth about $6,739,000. Nantahala Capital Management LLC acquired a new stake in Artiva Biotherapeutics in the 2nd quarter valued at about $2,910,000. Finally, Alyeska Investment Group L.P. raised its position in Artiva Biotherapeutics by 173.6% in the 2nd quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company's stock valued at $2,654,000 after purchasing an additional 173,615 shares in the last quarter.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc NASDAQ: ARTV is a clinical-stage biotechnology company developing allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company's approach is designed to produce off-the-shelf cell therapies that can be manufactured at scale and administered without using cells collected from each individual patient.

Artiva's lead investigational product, AlloNK, also known as AB-101, is an allogeneic NK cell therapy being evaluated in combination with rituximab for autoimmune conditions, including systemic lupus erythematosus and lupus nephritis.

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