Artiva Biotherapeutics (NASDAQ:ARTV) Announces Earnings Results

Artiva Biotherapeutics (NASDAQ:ARTV) announced its earnings results on Monday. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.02), FiscalAI reports.

Artiva Biotherapeutics Stock Performance

NASDAQ ARTV traded up $0.07 on Monday, hitting $4.22. 939,952 shares of the stock traded hands, compared to its average volume of 473,325. The business’s fifty day moving average is $7.37 and its two-hundred day moving average is $7.95. Artiva Biotherapeutics has a 12 month low of $2.96 and a 12 month high of $14.53. The firm has a market capitalization of $206.32 million, a price-to-earnings ratio of -1.28 and a beta of 2.68.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARTV. Wedbush cut Artiva Biotherapeutics from an “outperform” rating to a “neutral” rating and set a $4.00 target price on the stock. in a research note on Tuesday, October 27th. HC Wainwright restated a “buy” rating on shares of Artiva Biotherapeutics in a research report on Friday, October 2nd. TD Cowen downgraded shares of Artiva Biotherapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Needham & Company LLC lowered shares of Artiva Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 target price on shares of Artiva Biotherapeutics in a research note on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.80.

Insider Transactions at Artiva Biotherapeutics

In other Artiva Biotherapeutics news, COO Jennifer Bush sold 8,370 shares of the business’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $6.84, for a total value of $57,250.80. Following the sale, the chief operating officer directly owned 366,159 shares in the company, valued at $2,504,527.56. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christopher Horan sold 10,340 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $6.84, for a total value of $70,725.60. Following the transaction, the insider directly owned 312,744 shares in the company, valued at $2,139,168.96. This represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 137,048 shares of company stock valued at $1,086,167. Corporate insiders own 1.80% of the company’s stock.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company developing off-the-shelf, allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is intended to provide readily available cell-based treatments that can be manufactured in advance and administered without using each patient’s own cells.

Artiva’s lead product candidate is AlloNK, also known as AB-101, an allogeneic NK cell therapy derived from umbilical cord blood. The company is evaluating AlloNK in combination with antibody treatments, including rituximab, for conditions such as B-cell malignancies and autoimmune diseases.