Artiva Biotherapeutics (NASDAQ:ARTV) Shares Up 4.3% – Here’s What Happened

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) shares traded up 4.3% during trading on Wednesday . The stock traded as high as $4.68 and last traded at $4.60. 279,983 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,760,033 shares. The stock had previously closed at $4.41.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HC Wainwright raised their price target on Artiva Biotherapeutics from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Thursday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Artiva Biotherapeutics in a research note on Friday, October 17th. Wedbush lifted their price target on Artiva Biotherapeutics from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Jefferies Financial Group raised shares of Artiva Biotherapeutics to a “strong-buy” rating in a research note on Tuesday, November 18th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Artiva Biotherapeutics Trading Up 4.3%

The firm has a market cap of $112.93 million, a P/E ratio of -1.78 and a beta of 2.92. The company’s 50 day simple moving average is $3.85 and its 200-day simple moving average is $3.19.

Artiva Biotherapeutics (NASDAQ:ARTV) last issued its earnings results on Wednesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, sell-side analysts anticipate that Artiva Biotherapeutics, Inc. will post -4.95 earnings per share for the current year.

Insider Activity

In related news, CEO Fred Aslan sold 25,500 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $6.00, for a total value of $153,000.00. Following the transaction, the chief executive officer owned 356,721 shares of the company’s stock, valued at approximately $2,140,326. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 35,062 shares of company stock valued at $193,670 over the last quarter. Company insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ARTV. Bank of America Corp DE lifted its holdings in Artiva Biotherapeutics by 225.8% during the third 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. Prelude Capital Management LLC purchased a new position in shares of Artiva Biotherapeutics in the third quarter valued at about $41,000. Ground Swell Capital LLC purchased a new position in Artiva Biotherapeutics in the 2nd quarter worth approximately $38,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Artiva Biotherapeutics in the second quarter worth $48,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of Artiva Biotherapeutics during the 2nd quarter valued at about $53,000.

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.