Artiva Biotherapeutics (NASDAQ:ARTV) Announces Earnings Results

Artiva Biotherapeutics (NASDAQ:ARTV) released its quarterly earnings data on Thursday. The company reported ($0.63) earnings per share for the quarter, hitting the consensus estimate of ($0.63), FiscalAI reports.

Artiva Biotherapeutics Stock Performance

Shares of ARTV traded down $0.31 on Friday, reaching $11.27. The stock had a trading volume of 214,660 shares, compared to its average volume of 410,099. Artiva Biotherapeutics has a 12-month low of $2.22 and a 12-month high of $14.53. The firm has a market capitalization of $278.59 million, a price-to-earnings ratio of -3.42 and a beta of 2.16. The company has a 50-day simple moving average of $9.36 and a 200-day simple moving average of $7.74.

Analyst Ratings Changes

Several research firms have recently issued reports on ARTV. Cantor Fitzgerald reissued an “overweight” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, May 26th. Wedbush lifted their price target on shares of Artiva Biotherapeutics from $23.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Artiva Biotherapeutics in a research report on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Tuesday, July 21st. Finally, HC Wainwright raised their target price on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. acquired 24,944 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $9.93 per share, for a total transaction of $247,693.92. Following the completion of the acquisition, the director owned 17,329,570 shares in the company, valued at $172,082,630.10. This trade represents a 0.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders acquired 9,907,958 shares of company stock valued at $107,688,019 and sold 53,040 shares valued at $477,890. 21.40% of the stock is currently owned by insiders.

Institutional Trading of Artiva Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP purchased a new stake in shares of Artiva Biotherapeutics in the 2nd quarter worth approximately $79,000. Qube Research & Technologies Ltd purchased a new position in Artiva Biotherapeutics during the second quarter valued at $58,000. Jane Street Group LLC purchased a new position in Artiva Biotherapeutics during the second quarter valued at $67,000. Bridgeway Capital Management LLC bought a new stake in Artiva Biotherapeutics in the second quarter worth $53,000. Finally, BNP Paribas Financial Markets boosted its holdings in Artiva Biotherapeutics by 14,463.5% in the third quarter. BNP Paribas Financial Markets now owns 118,547 shares of the company’s stock worth $340,000 after acquiring an additional 117,733 shares in the last quarter.

Artiva Biotherapeutics Company Profile

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company focused on the development of allogeneic “off-the-shelf” cell therapies for cancer. The company’s proprietary platform leverages natural killer (NK) cells engineered to express chimeric antigen receptors (CARs) or other targeting modalities, with the goal of delivering potent anti-tumor activity while minimizing the safety and supply limitations associated with patient-derived (autologous) approaches.

Artiva’s pipeline includes multiple lead product candidates designed to address both hematologic malignancies and solid tumors.