Artiva Biotherapeutics (NASDAQ:ARTV) Cut to “Neutral” at Wedbush

Wedbush downgraded shares of Artiva Biotherapeutics (NASDAQ:ARTV) from an outperform rating to a neutral rating in a research report report published on Tuesday, Marketbeat reports. Wedbush currently has $4.00 price target on the stock.

Several other research analysts have also commented on the company. Wall Street Zen upgraded Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price objective on shares of Artiva Biotherapeutics in a report on Friday, October 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Monday, October 19th. Finally, HC Wainwright reissued a “buy” rating on shares of Artiva Biotherapeutics in a research note on Friday, October 2nd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.80.

Artiva Biotherapeutics Stock Performance

Shares of ARTV stock opened at $4.23 on Tuesday. The firm’s 50 day moving average price is $8.25 and its 200-day moving average price is $7.97. Artiva Biotherapeutics has a one year low of $2.96 and a one year high of $14.53.

Artiva Biotherapeutics (NASDAQ:ARTV) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.63) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.63). On average, research analysts forecast that Artiva Biotherapeutics will post -2.62 earnings per share for the current year.

Insider Buying and Selling at Artiva Biotherapeutics

In other Artiva Biotherapeutics news, insider Christopher Horan sold 10,340 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $6.84, for a total value of $70,725.60. Following the completion of the transaction, the insider owned 312,744 shares of the company’s stock, valued at $2,139,168.96. This trade represents a 3.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Fred Aslan sold 23,463 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.20, for a total transaction of $168,933.60. Following the completion of the transaction, the chief executive officer owned 1,519,606 shares of the company’s stock, valued at approximately $10,941,163.20. This trade represents a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 137,048 shares of company stock valued at $1,086,167 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Artiva Biotherapeutics

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in Artiva Biotherapeutics during the 2nd quarter worth $144,000. Spark Investment Management LLC acquired a new stake in Artiva Biotherapeutics in the 2nd quarter valued at about $160,000. 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. Nantahala Capital Management LLC acquired a new stake in Artiva Biotherapeutics in the 2nd quarter valued at about $2,910,000. Finally, 5AM Venture Management LLC purchased a new position in shares of Artiva Biotherapeutics in the 2nd quarter valued at about $22,827,049.

Artiva Biotherapeutics Company Profile

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company developing off-the-shelf, allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is intended to provide readily available cell-based treatments that can be manufactured in advance and administered without using each patient’s own cells.

Artiva’s lead product candidate is AlloNK, also known as AB-101, an allogeneic NK cell therapy derived from umbilical cord blood. The company is evaluating AlloNK in combination with antibody treatments, including rituximab, for conditions such as B-cell malignancies and autoimmune diseases.