Artiva Biotherapeutics initiated with a Buy at Jefferies

Jefferies initiated coverage of Artiva Biotherapeutics with a Buy rating and $21 price target. The company’s novel NK-cell therapy, AlloNK, is set for pursuing an emerging multi-billion autoimmune opportunity, the analyst tells investors in a research note. The firm says that as an early mover, Artiva has initiated a Phase 1 trial in lupus and a basket IIT in multi- autoimmune indications. It believes “compelling” efficacy from a prior study should be translatable for autoimmune success.