Artiva Biotherapeutics (NASDAQ:ARTV) CEO Sells $244,315.16 in Stock

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) CEO Fred Aslan sold 27,116 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 transaction of $244,315.16. Following the completion of the transaction, the chief executive officer owned 1,535,082 shares in the company, valued at approximately $13,831,088.82. This trade represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Artiva Biotherapeutics Trading Down 7.3%

Shares of ARTV traded down $0.67 during mid-day trading on Tuesday, reaching $8.55. The company had a trading volume of 844,679 shares, compared to its average volume of 581,930. The stock has a market cap of $211.36 million, a price-to-earnings ratio of -2.42 and a beta of 2.86. The firm has a fifty day simple moving average of $8.32 and a 200-day simple moving average of $5.65. Artiva Biotherapeutics, Inc. has a fifty-two week low of $1.47 and a fifty-two week high of $14.53.

Artiva Biotherapeutics (NASDAQ:ARTV) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). As a group, equities analysts predict that Artiva Biotherapeutics, Inc. will post -2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARTV. HC Wainwright lifted their price target on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the company a “buy” rating in a report on Friday, May 8th. Cantor Fitzgerald lifted their price target on shares of Artiva Biotherapeutics from $10.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. Needham & Company LLC lifted their target price on shares of Artiva Biotherapeutics from $18.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a report on Sunday. One investment 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’s stock. According to MarketBeat, Artiva Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Prelude Capital Management LLC bought a new stake in shares of Artiva Biotherapeutics in the 3rd quarter worth about $41,000. Bank of America Corp DE increased its position in shares of Artiva Biotherapeutics by 225.8% in the 3rd quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock worth $46,000 after purchasing an additional 11,190 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Artiva Biotherapeutics in the 1st quarter worth about $131,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Artiva Biotherapeutics in the 4th quarter worth about $91,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Artiva Biotherapeutics in the 1st quarter worth about $139,000.

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.