Artiva Biotherapeutics price target lowered to $20 from $23 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Artiva Biotherapeutics (ARTV) to $20 from $23 and keeps an Overweight rating on the shares. The firm notes a “healthy amount of enthusiasm” from rheumatology specialists that cell therapy has the potential to deliver durable drug-free remissions for patients in a way that hasn’t been achieved previously, though Cantor acknowledges “it’s not the best time” to be a cell therapy for autoimmune disorders stock given concerns about competitive dynamics and slow cadence of enrollment. Cantor tells investors in a research note that it “eagerly” awaits the company’s Q2 data update.