Short Interest in Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Grows By 109.1%

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totaling 480,579 shares, an increase of 109.1% from the April 30th total of 229,817 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 777,769 shares, the days-to-cover ratio is currently 0.6 days.

Insider Buying and Selling at Artiva Biotherapeutics

In other news, SVP Heather Raymon sold 3,095 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.01, for a total transaction of $27,885.95. Following the completion of the sale, the senior vice president owned 148,228 shares of the company’s stock, valued at approximately $1,335,534.28. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Subhashis Banerjee sold 7,037 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $9.01, for a total transaction of $63,403.37. Following the completion of the sale, the insider directly owned 144,963 shares in the company, valued at approximately $1,306,116.63. This trade represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have bought 7,942,707 shares of company stock valued at $91,499,985 and have sold 53,040 shares valued at $477,890. Company insiders own 21.40% of the company’s stock.

Institutional Trading of Artiva Biotherapeutics

Institutional investors have recently bought and sold shares of the business. Prelude Capital Management LLC purchased a new position in shares of Artiva Biotherapeutics in the third quarter valued at approximately $41,000. Bank of America Corp DE increased its stake in Artiva Biotherapeutics by 225.8% during the third quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock worth $46,000 after acquiring an additional 11,190 shares during the last quarter. 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.

Artiva Biotherapeutics Stock Performance

NASDAQ ARTV opened at $7.93 on Monday. The company has a market cap of $196.03 million, a P/E ratio of -2.24 and a beta of 2.40. The business’s 50 day moving average price is $8.56 and its 200-day moving average price is $5.88. Artiva Biotherapeutics 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 data on Friday, May 8th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). As a group, equities analysts predict that Artiva Biotherapeutics will post -2.45 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wedbush increased their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Artiva Biotherapeutics in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. Needham & Company LLC boosted their price target 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, HC Wainwright boosted their price target on Artiva Biotherapeutics from $15.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

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.