Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) Sees Significant Increase in Short Interest

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 1,025,413 shares, a growth of 113.4% from the May 14th total of 480,610 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average trading volume of 518,668 shares, the short-interest ratio is presently 2.0 days.

Insider Transactions at Artiva Biotherapeutics

In other Artiva Biotherapeutics news, insider Subhashis Banerjee sold 7,037 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.01, for a total value of $63,403.37. Following the sale, the insider owned 144,963 shares in the company, valued at approximately $1,306,116.63. The trade was a 4.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jennifer Bush sold 8,790 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $9.01, for a total value of $79,197.90. Following the completion of the sale, the chief operating officer owned 337,920 shares in the company, valued at $3,044,659.20. The trade was a 2.54% 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. In the last three months, insiders have purchased 8,970,429 shares of company stock worth $99,150,133 and have sold 53,040 shares worth $477,890. 21.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Artiva Biotherapeutics

Hedge funds have recently bought and sold shares of the stock. Prelude Capital Management LLC bought a new stake in Artiva Biotherapeutics in the 3rd quarter valued at $41,000. Bank of America Corp DE boosted its stake in Artiva Biotherapeutics by 225.8% in the 3rd quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock valued at $46,000 after purchasing an additional 11,190 shares during the period. Bridgeway Capital Management LLC bought a new stake in Artiva Biotherapeutics in the 2nd quarter valued at $53,000. Qube Research & Technologies Ltd bought a new stake in Artiva Biotherapeutics in the 2nd quarter valued at $58,000. Finally, Jane Street Group LLC bought a new stake in Artiva Biotherapeutics in the 2nd quarter valued at $67,000.

Analyst Ratings Changes

ARTV has been the topic of several recent analyst reports. HC Wainwright boosted their price target on Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Artiva Biotherapeutics in a research report on Monday, June 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Artiva Biotherapeutics in a research report on Tuesday, May 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. Finally, Wedbush boosted their target price on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. One equities 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 stock. According to data from MarketBeat.com, Artiva Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Artiva Biotherapeutics Stock Up 6.7%

Shares of ARTV stock traded up $0.54 during trading on Friday, reaching $8.54. 1,431,670 shares of the company’s stock were exchanged, compared to its average volume of 522,022. The stock has a market capitalization of $211.11 million, a PE ratio of -2.41 and a beta of 2.38. Artiva Biotherapeutics has a twelve month low of $1.47 and a twelve month high of $14.53. The firm’s fifty day moving average price is $8.93 and its 200-day moving average price is $6.14.

Artiva Biotherapeutics (NASDAQ:ARTV) last posted its 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, analysts anticipate that Artiva Biotherapeutics will post -2.45 EPS for the current fiscal year.

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.