Needham & Company LLC Issues Pessimistic Forecast for Artiva Biotherapeutics (NASDAQ:ARTV) Stock Price

Artiva Biotherapeutics (NASDAQ:ARTV) had its price objective cut by equities research analysts at Needham & Company LLC from $23.00 to $18.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Other analysts have also issued reports about the stock. Cantor Fitzgerald lowered their price objective on shares of Artiva Biotherapeutics from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, March 25th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Artiva Biotherapeutics in a research note on Wednesday, March 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $18.00 price target on shares of Artiva Biotherapeutics in a research note on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $19.40.

Artiva Biotherapeutics Stock Down 4.7%

Shares of NASDAQ:ARTV opened at $2.03 on Thursday. The stock’s 50-day moving average price is $2.87 and its 200-day moving average price is $6.57. Artiva Biotherapeutics has a 12-month low of $1.78 and a 12-month high of $17.31.

Artiva Biotherapeutics (NASDAQ:ARTV) last posted its earnings results on Thursday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.15). On average, equities research analysts predict that Artiva Biotherapeutics will post -4.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ARTV. Nuveen LLC purchased a new stake in shares of Artiva Biotherapeutics during the first quarter valued at approximately $144,000. Norges Bank bought a new position in Artiva Biotherapeutics in the 4th quarter valued at approximately $302,000. JPMorgan Chase & Co. boosted its stake in Artiva Biotherapeutics by 250.7% during the 4th quarter. JPMorgan Chase & Co. now owns 37,619 shares of the company’s stock valued at $379,000 after purchasing an additional 26,893 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Artiva Biotherapeutics in the 4th quarter worth $216,000. Finally, Barclays PLC purchased a new position in shares of Artiva Biotherapeutics in the third quarter worth $304,000.

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.