Artiva Biotherapeutics initiated with a Buy at Needham

Needham analyst Gil Blum initiated coverage of Artiva Biotherapeutics with a Buy rating and $23 price target. Artiva is a clinical stage company developing off-the-shelf natural killer cell therapies for autoimmune disorders, the analyst tells investors in a research note. The firm believes the company’s value will initially come from its lead program in lupus, while expansion into other larger autoimmune disorders could drive long-term growth. Initial clinical data expected in the first half of 2025 is the key near-term driver for the stock, adds Needham.