Artiva Biotherapeutics (NASDAQ:ARTV) Trading 5.7% Higher – Here’s What Happened

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) shares were up 5.7% on Monday . The stock traded as high as $11.55 and last traded at $11.5560. 160,571 shares were traded during trading, a decline of 58% from the average session volume of 382,233 shares. The stock had previously closed at $10.93.

Analyst Ratings Changes

A number of brokerages recently weighed in on ARTV. Weiss Ratings restated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Tuesday, July 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, May 26th. Wall Street Zen raised Artiva Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Wedbush boosted their target price on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price target on shares of Artiva Biotherapeutics in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Artiva Biotherapeutics Trading Up 2.2%

The stock has a 50 day moving average of $10.28 and a 200-day moving average of $8.36. The company has a market capitalization of $575.44 million, a P/E ratio of -3.57 and a beta of 2.16.

Artiva Biotherapeutics (NASDAQ:ARTV) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.63) earnings per share for the quarter, meeting the consensus estimate of ($0.63). As a group, sell-side analysts expect that Artiva Biotherapeutics, Inc. will post -2.62 EPS for the current fiscal year.

Insider Transactions at Artiva Biotherapeutics

In other news, Director Ra Capital Management, L.P. purchased 24,944 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $9.93 per share, with a total value of $247,693.92. Following the completion of the purchase, the director owned 17,329,570 shares in the company, valued at approximately $172,082,630.10. This represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 1,965,251 shares of company stock valued at $16,188,035. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. lifted its holdings in shares of Artiva Biotherapeutics by 173.6% in the 2nd quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company’s stock worth $2,654,000 after acquiring an additional 173,615 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Artiva Biotherapeutics during the second quarter valued at approximately $2,910,000,000. 5AM Venture Management LLC purchased a new stake in shares of Artiva Biotherapeutics in the second quarter worth approximately $22,827,049,000. ADAR1 Capital Management LLC purchased a new position in Artiva Biotherapeutics during the 2nd quarter valued at $1,151,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in Artiva Biotherapeutics in the second quarter worth $8,483,000.

Artiva Biotherapeutics Company Profile

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.