Wedbush Forecasts Strong Price Appreciation for Artiva Biotherapeutics (NASDAQ:ARTV) Stock

Key Points

• Wedbush has increased its price target for Artiva Biotherapeutics (NASDAQ:ARTV) from $18.00 to $23.00, maintaining an "outperform" rating on the stock.
• The stock currently has a consensus rating of "Moderate Buy" with an average target price of $18.25, driven by ratings from four analysts who rated it as a Buy.
• CEO Fred Aslan recently sold 25,500 shares of the company, which represents a 6.19% decrease in his ownership position, bringing his total to 386,693 shares.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) had its price objective increased by analysts at Wedbush from $18.00 to $23.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $18.00 price target on shares of Artiva Biotherapeutics in a report on Friday. Weiss Ratings restated a "sell (e+)" rating on shares of Artiva Biotherapeutics in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.25.

Artiva Biotherapeutics Stock Performance

ARTV stock opened at $2.77 on Friday. Artiva Biotherapeutics has a one year low of $1.47 and a one year high of $15.49. The company has a fifty day moving average of $2.85 and a 200-day moving average of $2.42.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.03). As a group, equities analysts anticipate that Artiva Biotherapeutics will post -4.95 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Fred Aslan sold 25,500 shares of Artiva Biotherapeutics stock in a transaction dated Friday, August 15th. The stock was 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 $1,055,671.89. The trade was a 6.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 21.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARTV. Bridgeway Capital Management LLC acquired a new position in Artiva Biotherapeutics in the 2nd quarter valued at $53,000. Jane Street Group LLC bought a new stake in shares of Artiva Biotherapeutics during the 2nd quarter worth $67,000. Qube Research & Technologies Ltd bought a new stake in shares of Artiva Biotherapeutics during the 2nd quarter worth $58,000. Marshall Wace LLP bought a new stake in shares of Artiva Biotherapeutics during the 2nd quarter worth $79,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Artiva Biotherapeutics in the second quarter valued at about $48,000.

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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