Insider Buying: Artiva Biotherapeutics (NASDAQ:ARTV) Director Purchases 548,580 Shares of Stock

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Director Ra Capital Management, L.P. bought 548,580 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $7.91 per share, with a total value of $4,339,267.80. Following the acquisition, the director owned 16,231,717 shares of the company’s stock, valued at $128,392,881.47. This represents a 3.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, June 10th, Ra Capital Management, L.P. acquired 103 shares of Artiva Biotherapeutics stock. The shares were bought at an average price of $7.00 per share, with a total value of $721.00.
• On Tuesday, June 9th, Ra Capital Management, L.P. acquired 479,039 shares of Artiva Biotherapeutics stock. The stock was acquired at an average price of $6.91 per share, with a total value of $3,310,159.49.
• On Monday, May 11th, Ra Capital Management, L.P. acquired 6,510,416 shares of Artiva Biotherapeutics stock. The stock was purchased at an average cost of $11.52 per share, with a total value of $74,999,992.32.

Artiva Biotherapeutics Trading Up 7.8%

Shares of NASDAQ:ARTV traded up $0.58 during midday trading on Thursday, hitting $8.00. The company had a trading volume of 1,059,213 shares, compared to its average volume of 488,136. Artiva Biotherapeutics, Inc. has a 12-month low of $1.47 and a 12-month high of $14.53. The company has a fifty day moving average of $8.89 and a two-hundred day moving average of $6.12.

Artiva Biotherapeutics (NASDAQ:ARTV) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). Sell-side analysts forecast that Artiva Biotherapeutics, Inc. will post -2.45 EPS for the current year.

Analyst Upgrades and Downgrades

ARTV has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price target on shares of Artiva Biotherapeutics in a research report on Monday. HC Wainwright raised their target price on Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Artiva Biotherapeutics in a report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Hedge Funds Weigh In On Artiva Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ARTV. Prelude Capital Management LLC purchased a new stake in shares of Artiva Biotherapeutics during the 3rd quarter worth $41,000. Bank of America Corp DE lifted its stake in 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 during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Artiva Biotherapeutics during the 1st quarter valued at approximately $131,000. OMERS ADMINISTRATION Corp purchased a new stake in Artiva Biotherapeutics during the 4th quarter valued at approximately $91,000. Finally, Sanctuary Advisors LLC purchased a new stake in Artiva Biotherapeutics during the 1st quarter valued at approximately $139,000.

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.