Artiva Biotherapeutics (NASDAQ:ARTV) Director Ra Capital Management, L.P. Purchases 6,510,416 Shares

Artiva Biotherapeutics, Inc. (NASDAQ:ARTVGet Free Report) Director Ra Capital Management, L.P. acquired 6,510,416 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $11.52 per share, with a total value of $74,999,992.32. Following the acquisition, the director owned 15,203,995 shares in the company, valued at approximately $175,150,022.40. This trade represents a 74.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Artiva Biotherapeutics Stock Performance

Artiva Biotherapeutics stock traded down $0.13 during midday trading on Wednesday, hitting $10.50. 423,850 shares of the company were exchanged, compared to its average volume of 293,441. The firm has a market capitalization of $259.56 million, a PE ratio of -2.97 and a beta of 2.86. Artiva Biotherapeutics, Inc. has a fifty-two week low of $1.47 and a fifty-two week high of $14.53. The business has a fifty day simple moving average of $7.91 and a two-hundred day simple moving average of $5.48.

Artiva Biotherapeutics (NASDAQ:ARTVGet Free Report) last announced its quarterly 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). As a group, equities analysts expect that Artiva Biotherapeutics, Inc. will post -2.88 earnings per share for the current year.

Hedge Funds Weigh In On Artiva Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC purchased a new stake in shares of Artiva Biotherapeutics during the third quarter worth about $41,000. Bank of America Corp DE lifted its stake in Artiva Biotherapeutics by 225.8% in the 3rd quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock valued at $46,000 after buying an additional 11,190 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Artiva Biotherapeutics in the 1st quarter worth about $131,000. OMERS ADMINISTRATION Corp acquired a new stake in Artiva Biotherapeutics in the 4th quarter worth about $91,000. Finally, Sanctuary Advisors LLC purchased a new stake in Artiva Biotherapeutics during the 1st quarter worth approximately $139,000.

Analyst Upgrades and Downgrades

ARTV has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald raised their target price on Artiva Biotherapeutics from $10.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday. HC Wainwright upped their price target on Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wedbush increased their price target on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Needham & Company LLC raised their price objective on Artiva Biotherapeutics from $18.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday. One equities research 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 stock. According to MarketBeat, Artiva Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Check Out Our Latest Research Report on Artiva Biotherapeutics

Key Headlines Impacting Artiva Biotherapeutics

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Artiva Biotherapeutics Company Profile

(Get Free Report)

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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