Artiva Biotherapeutics (NASDAQ:ARTV) Price Target Raised to $40.00

Artiva Biotherapeutics (NASDAQ:ARTV) had its price target lifted by Wedbush from $23.00 to $40.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 267.31% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Artiva Biotherapeutics in a research note on Monday, May 4th. HC Wainwright upped their price objective on Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Friday, April 24th. Finally, Wall Street Zen raised Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Artiva Biotherapeutics Stock Performance

Artiva Biotherapeutics stock opened at $10.89 on Monday. The stock has a fifty day moving average of $7.59 and a 200 day moving average of $5.35. The stock has a market cap of $269.20 million, a PE ratio of -3.08 and a beta of 2.86. Artiva Biotherapeutics has a one year low of $1.47 and a one year high of $14.53.

Artiva Biotherapeutics (NASDAQ:ARTV) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). As a group, sell-side analysts predict that Artiva Biotherapeutics will post -3.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC increased its stake in Artiva Biotherapeutics by 419.3% in the 3rd quarter. Citadel Advisors LLC now owns 798,397 shares of the company’s stock worth $2,291,000 after acquiring an additional 644,658 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Artiva Biotherapeutics by 14,463.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 118,547 shares of the company’s stock worth $340,000 after acquiring an additional 117,733 shares during the last quarter. Renaissance Technologies LLC increased its stake in Artiva Biotherapeutics by 46.8% in the 4th quarter. Renaissance Technologies LLC now owns 116,200 shares of the company’s stock worth $498,000 after acquiring an additional 37,053 shares during the last quarter. Marshall Wace LLP bought a new stake in Artiva Biotherapeutics in the 4th quarter worth approximately $341,000. Finally, Jane Street Group LLC bought a new stake in Artiva Biotherapeutics in the 2nd quarter worth 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.