Artiva Biotherapeutics (NASDAQ:ARTV) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Artiva Biotherapeutics (NASDAQ:ARTV) issued its earnings results on Tuesday. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.02, Zacks reports.

Artiva Biotherapeutics Stock Down 2.6%

Shares of NASDAQ ARTV traded down $0.09 during trading on Wednesday, hitting $3.50. 311,437 shares of the company traded hands, compared to its average volume of 790,435. The firm has a market capitalization of $85.41 million, a P/E ratio of -1.31 and a beta of 3.06. The company has a 50-day moving average price of $3.36 and a 200-day moving average price of $2.67. Artiva Biotherapeutics has a 1 year low of $1.47 and a 1 year high of $13.85.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARTV. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Artiva Biotherapeutics in a research note on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Thursday, October 30th. Finally, Wedbush lifted 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. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.25.

Insider Buying and Selling

In other news, CEO Fred Aslan sold 25,500 shares of the firm’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $6.00, for a total value of $153,000.00. Following the transaction, the chief executive officer directly owned 356,721 shares in the company, valued at $2,140,326. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARTV. Bridgeway Capital Management LLC acquired a new position in Artiva Biotherapeutics during the second quarter valued at approximately $53,000. Jane Street Group LLC acquired a new stake in Artiva Biotherapeutics in the 2nd quarter valued at $67,000. Qube Research & Technologies Ltd acquired a new stake in Artiva Biotherapeutics in the 2nd quarter valued at $58,000. Finally, Marshall Wace LLP purchased a new position in Artiva Biotherapeutics in the second quarter valued at about $79,000.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing natural killer (NK) cell-based therapies for patients suffering from autoimmune diseases and cancers. The company’s lead product candidate is AB-101, an off-the-shelf NK cell therapy for patients with autoimmune diseases and cancers, such as lupus nephritis, rheumatoid arthritis, pemphigus vulgaris, the anti-neutrophil cytoplasmic antibody-associated vasculitis subtypes granulomatosis with polyangiitis/microscopic polyangiitis, systemic lupus erythematosus, and B-cell-non-Hodgkin lymphoma.