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

Artiva Biotherapeutics, Inc. (NASDAQ:ARTV) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 391,100 shares, an increase of 119.5% from the December 15th total of 178,188 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average trading volume of 597,371 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 597,371 shares, the days-to-cover ratio is currently 0.7 days. Approximately 2.0% of the shares of the stock are sold short.

Insider Buying and Selling

In other Artiva Biotherapeutics news, CEO Fred Aslan sold 25,500 shares of the stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $6.00, for a total transaction of $153,000.00. Following the completion of the sale, the chief executive officer directly owned 356,721 shares of the company’s stock, valued at $2,140,326. This trade represents a 6.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 35,062 shares of company stock valued at $193,670. 21.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Artiva Biotherapeutics

Several large investors have recently modified their holdings of the stock. Prelude Capital Management LLC bought a new stake in Artiva Biotherapeutics in the third quarter worth $41,000. Bank of America Corp DE raised its stake in shares of Artiva Biotherapeutics by 225.8% in the third quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock valued at $46,000 after acquiring an additional 11,190 shares during the period. Ground Swell Capital LLC bought a new stake in shares of Artiva Biotherapeutics in the 2nd quarter worth about $38,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Artiva Biotherapeutics during the 2nd quarter worth about $48,000. Finally, Bridgeway Capital Management LLC bought a new position in Artiva Biotherapeutics during the 2nd quarter valued at about $53,000.

Analyst Upgrades and Downgrades

ARTV has been the subject of a number of research reports. Wedbush upped their target price on shares of Artiva Biotherapeutics from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Thursday, October 30th. HC Wainwright raised their price objective on Artiva Biotherapeutics from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Jefferies Financial Group upgraded Artiva Biotherapeutics to a “strong-buy” rating in a research report on Tuesday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Artiva Biotherapeutics in a research note on Friday, October 17th. One investment 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. Based on data from MarketBeat, Artiva Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Artiva Biotherapeutics Stock Down 5.7%

Artiva Biotherapeutics stock opened at $4.60 on Wednesday. The company’s 50-day moving average price is $3.92 and its 200-day moving average price is $3.29. The company has a market cap of $112.93 million, a PE ratio of -1.78 and a beta of 2.92. Artiva Biotherapeutics has a twelve month low of $1.47 and a twelve month high of $7.94.

Artiva Biotherapeutics (NASDAQ:ARTV) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts expect that Artiva Biotherapeutics will post -4.95 earnings per share 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.