Artiva Biotherapeutics (NASDAQ:ARTV) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Artiva Biotherapeutics (NASDAQ:ARTV) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. Wedbush lowered Artiva Biotherapeutics from an “outperform” rating to a “neutral” rating and set a $4.00 price target on the stock. in a research note on Tuesday, October 27th. Jefferies Financial Group cut Artiva Biotherapeutics from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Monday, October 19th. TD Cowen downgraded Artiva Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Finally, Needham & Company LLC lowered shares of Artiva Biotherapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.80.

Artiva Biotherapeutics Stock Performance

ARTV opened at $4.19 on Friday. Artiva Biotherapeutics has a one year low of $2.96 and a one year high of $14.53. The business’s 50 day moving average price is $7.98 and its 200 day moving average price is $7.96.

Artiva Biotherapeutics (NASDAQ:ARTV) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.63) earnings per share for the quarter, hitting the consensus estimate of ($0.63). As a group, analysts predict that Artiva Biotherapeutics will post -2.71 earnings per share for the current year.

Insider Transactions at Artiva Biotherapeutics

In related news, COO Jennifer Bush sold 8,370 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $6.84, for a total transaction of $57,250.80. Following the completion of the transaction, the chief operating officer directly owned 366,159 shares in the company, valued at $2,504,527.56. This trade represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Fred Aslan sold 61,696 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $6.84, for a total transaction of $422,000.64. Following the completion of the transaction, the chief executive officer directly owned 1,543,069 shares of the company’s stock, valued at approximately $10,554,591.96. The trade was a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 137,048 shares of company stock valued at $1,086,167. Insiders own 1.80% of the company’s stock.

Institutional Trading of Artiva Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 5AM Venture Management LLC purchased a new stake in Artiva Biotherapeutics during the second quarter worth approximately $22,827,049. Blue Owl Capital Holdings LP purchased a new position in Artiva Biotherapeutics in the second quarter valued at approximately $8,483,000. BlackRock Inc. purchased a new position in Artiva Biotherapeutics in the second quarter valued at approximately $6,739,000. Nantahala Capital Management LLC acquired a new stake in Artiva Biotherapeutics during the second quarter worth approximately $2,910,000. Finally, Alyeska Investment Group L.P. raised its holdings in Artiva Biotherapeutics by 173.6% during the second quarter. Alyeska Investment Group L.P. now owns 273,615 shares of the company’s stock worth $2,654,000 after purchasing an additional 173,615 shares in the last quarter.

Artiva Biotherapeutics Company Profile

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company developing off-the-shelf, allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is intended to provide readily available cell-based treatments that can be manufactured in advance and administered without using each patient’s own cells.

Artiva’s lead product candidate is AlloNK, also known as AB-101, an allogeneic NK cell therapy derived from umbilical cord blood. The company is evaluating AlloNK in combination with antibody treatments, including rituximab, for conditions such as B-cell malignancies and autoimmune diseases.