Ra Capital Management, L.P. Buys 391,019 Shares of Artiva Biotherapeutics (NASDAQ:ARTV) Stock

Key Points

• Ra Capital Management bought 391,019 shares of Artiva Biotherapeutics on June 12 at an average price of $8.57, a $3.35 million transaction that increased its stake by 2.41% to 16.6 million shares.
• The firm also made several other recent purchases of ARTV shares, including a large buy of 6.51 million shares on May 11, showing sustained insider accumulation over multiple trading days.
• Artiva Biotherapeutics shares were trading around $8.91, and the company recently reported a quarterly EPS loss of $0.95, missing analyst estimates; despite that, analysts currently rate the stock a Moderate Buy with an average price target of $39.00.

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV - Get Free Report) Director Ra Capital Management, L.P. bought 391,019 shares of the company's stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $8.57 per share, for a total transaction of $3,351,032.83. Following the completion of the transaction, the director owned 16,622,736 shares of the company's stock, valued at approximately $142,456,847.52. The trade was a 2.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, June 16th, Ra Capital Management, L.P. bought 124,893 shares of Artiva Biotherapeutics stock. The shares were acquired at an average cost of $8.89 per share, for a total transaction of $1,110,298.77.
• On Monday, June 15th, Ra Capital Management, L.P. bought 15,414 shares of Artiva Biotherapeutics stock. The shares were acquired at an average cost of $8.99 per share, for a total transaction of $138,571.86.
• On Thursday, June 11th, Ra Capital Management, L.P. bought 548,580 shares of Artiva Biotherapeutics stock. The shares were acquired at an average cost of $7.91 per share, for a total transaction of $4,339,267.80.
• On Wednesday, June 10th, Ra Capital Management, L.P. bought 103 shares of Artiva Biotherapeutics stock. The shares were acquired at an average cost of $7.00 per share, for a total transaction of $721.00.
• On Tuesday, June 9th, Ra Capital Management, L.P. bought 479,039 shares of Artiva Biotherapeutics stock. The shares were acquired at an average cost of $6.91 per share, for a total transaction of $3,310,159.49.
• On Monday, May 11th, Ra Capital Management, L.P. bought 6,510,416 shares of Artiva Biotherapeutics stock. The shares were acquired at an average cost of $11.52 per share, for a total transaction of $74,999,992.32.

Artiva Biotherapeutics Stock Performance

Shares of NASDAQ ARTV traded down $0.27 during midday trading on Tuesday, reaching $8.91. 780,946 shares of the company's stock were exchanged, compared to its average volume of 355,699. Artiva Biotherapeutics, Inc. has a 52-week low of $1.47 and a 52-week high of $14.53. The stock has a market capitalization of $220.26 million, a PE ratio of -2.52 and a beta of 2.40. The business's fifty day moving average price is $8.98 and its two-hundred day moving average price is $6.20.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.07). Analysts predict that Artiva Biotherapeutics, Inc. will post -2.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ARTV shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Artiva Biotherapeutics in a report on Tuesday, May 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. Wedbush boosted their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Needham & Company LLC reissued a "buy" rating and issued a $41.00 price objective on shares of Artiva Biotherapeutics in a report on Monday, June 8th. Finally, HC Wainwright boosted their price objective on Artiva Biotherapeutics from $15.00 to $35.00 and gave the company a "buy" rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Institutional Trading of Artiva Biotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC increased its holdings in Artiva Biotherapeutics by 419.3% in the third quarter. Citadel Advisors LLC now owns 798,397 shares of the company's stock valued at $2,291,000 after buying an additional 644,658 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Artiva Biotherapeutics by 14,463.5% during the third quarter. BNP Paribas Financial Markets now owns 118,547 shares of the company's stock valued at $340,000 after purchasing an additional 117,733 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Artiva Biotherapeutics by 46.8% during the fourth quarter. Renaissance Technologies LLC now owns 116,200 shares of the company's stock valued at $498,000 after purchasing an additional 37,053 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Artiva Biotherapeutics during the fourth quarter valued at approximately $341,000. Finally, Jane Street Group LLC bought a new position in shares of Artiva Biotherapeutics during the second quarter valued at approximately $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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