Artiva Biotherapeutics (NASDAQ:ARTV) Shares Down 5.4% – Time to Sell?

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV)’s stock price was down 5.4% during mid-day trading on Monday . The stock traded as low as $14.22 and last traded at $14.29. Approximately 41,054 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 165,199 shares. The stock had previously closed at $15.10.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Artiva Biotherapeutics in a research report on Friday, August 30th. Cantor Fitzgerald assumed coverage on Artiva Biotherapeutics in a research note on Tuesday, August 13th. They issued an “overweight” rating and a $23.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Artiva Biotherapeutics in a report on Tuesday, August 13th. They issued a “buy” rating and a $21.00 target price for the company. TD Cowen started coverage on shares of Artiva Biotherapeutics in a report on Tuesday, August 13th. They set a “buy” rating on the stock. Finally, Wedbush restated an “outperform” rating and set a $18.00 price objective on shares of Artiva Biotherapeutics in a research report on Friday, August 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $21.25.

Artiva Biotherapeutics Price Performance

The company’s 50-day moving average price is $12.23.

Artiva Biotherapeutics (NASDAQ:ARTV) last announced its quarterly earnings results on Thursday, August 29th. The company reported ($19.10) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($18.03). As a group, analysts forecast that Artiva Biotherapeutics, Inc. will post -4.6 earnings per share for the current fiscal year.

Insider Transactions at Artiva Biotherapeutics

In other news, Director Yong-Jun Huh acquired 2,083,332 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were acquired at an average price of $12.00 per share, for a total transaction of $24,999,984.00. Following the completion of the transaction, the director now directly owns 3,306,900 shares of the company’s stock, valued at approximately $39,682,800. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Global Strategic Fund I. Venbio purchased 416,666 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were acquired at an average cost of $12.00 per share, for a total transaction of $4,999,992.00. Following the acquisition, the insider now owns 1,936,637 shares of the company’s stock, valued at $23,239,644. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yong-Jun Huh acquired 2,083,332 shares of the stock in a transaction dated Monday, July 22nd. The stock was acquired at an average cost of $12.00 per share, with a total value of $24,999,984.00. Following the transaction, the director now directly owns 3,306,900 shares in the company, valued at approximately $39,682,800. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Artiva Biotherapeutics Company Profile

Artiva Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing natural killer (NK) cell-based therapies for patients suffering from autoimmune diseases and cancers. The company’s lead product candidate is AB-101, an off-the-shelf NK cell therapy for patients with autoimmune diseases and cancers, such as lupus nephritis, rheumatoid arthritis, pemphigus vulgaris, the anti-neutrophil cytoplasmic antibody-associated vasculitis subtypes granulomatosis with polyangiitis/microscopic polyangiitis, systemic lupus erythematosus, and B-cell-non-Hodgkin lymphoma.