Key Points
- Insider sale: Artiva Biotherapeutics insider Christopher Horan sold 7,002 shares at an average price of $9.01, totaling about $63,088. The company said the sale was to cover tax withholding tied to vesting equity awards.
- Stock and earnings update: The stock was down 7.3% and opened at $8.55, near a 52-week range of $1.47 to $14.53. Artiva recently reported quarterly EPS of ($0.95), missing analyst estimates of ($0.88).
- Wall Street outlook: Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $39.00. Several firms recently raised targets sharply, though one analyst maintained a sell rating.
Artiva Biotherapeutics, Inc. (NASDAQ:ARTV - Get Free Report) insider Christopher Horan sold 7,002 shares of Artiva Biotherapeutics stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $9.01, for a total value of $63,088.02. Following the completion of the sale, the insider owned 293,450 shares in the company, valued at $2,643,984.50. This represents a 2.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Artiva Biotherapeutics Stock Down 7.3%
NASDAQ:ARTV opened at $8.55 on Wednesday. Artiva Biotherapeutics, Inc. has a 52 week low of $1.47 and a 52 week high of $14.53. The company has a market capitalization of $211.36 million, a P/E ratio of -2.42 and a beta of 2.86. The stock's fifty day moving average is $8.32 and its two-hundred day moving average is $5.65.
Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) last posted its 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). Sell-side analysts anticipate that Artiva Biotherapeutics, Inc. will post -2.45 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Artiva Biotherapeutics
A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Artiva Biotherapeutics by 225.8% in the third 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. Prelude Capital Management LLC acquired a new stake in shares of Artiva Biotherapeutics in the third quarter valued at $41,000. Dimensional Fund Advisors LP acquired a new stake in shares of Artiva Biotherapeutics in the first quarter valued at $131,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Artiva Biotherapeutics in the fourth quarter valued at $91,000. Finally, Sanctuary Advisors LLC acquired a new position in Artiva Biotherapeutics during the 1st quarter worth $139,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Cantor Fitzgerald lifted 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, May 11th. Wedbush lifted their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Artiva Biotherapeutics in a research note on Friday, April 24th. Needham & Company LLC lifted their price objective on Artiva Biotherapeutics from $18.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut Artiva Biotherapeutics from a "hold" rating to a "sell" rating in a research note on Sunday. One 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.
View Our Latest Stock Report on ARTV
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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