Artiva Biotherapeutics (NASDAQ:ARTV) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Artiva Biotherapeutics (NASDAQ:ARTV) released its quarterly earnings results on Monday. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01), FiscalAI reports.

Artiva Biotherapeutics Trading Up 1.4%

Shares of NASDAQ ARTV traded up $0.06 during midday trading on Wednesday, hitting $4.12. The company’s stock had a trading volume of 130,691 shares, compared to its average volume of 473,673. Artiva Biotherapeutics has a 12-month low of $2.96 and a 12-month high of $14.53. The firm has a market cap of $201.18 million, a P/E ratio of -1.38 and a beta of 2.67. The business’s 50 day moving average is $7.09 and its two-hundred day moving average is $7.94.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of Artiva Biotherapeutics in a research report on Friday, October 2nd. Jefferies Financial Group lowered shares of Artiva Biotherapeutics from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a report on Thursday, October 29th. HC Wainwright reaffirmed a “buy” rating on shares of Artiva Biotherapeutics in a research note on Friday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Monday, October 19th. Finally, Wall Street Zen downgraded shares of Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.80.

Insiders Place Their Bets

In other Artiva Biotherapeutics news, CEO Fred Aslan sold 61,696 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $6.84, for a total value of $422,000.64. Following the sale, the chief executive officer owned 1,543,069 shares in the company, valued at $10,554,591.96. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jennifer Bush sold 8,370 shares of the 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 completion of the sale, the chief operating officer owned 366,159 shares in the company, valued at approximately $2,504,527.56. The trade was a 2.23% 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. Insiders have sold 137,048 shares of company stock worth $1,086,167 in the last 90 days. 1.80% of the stock is owned by insiders.

About Artiva Biotherapeutics

Artiva Biotherapeutics is a San Diego-based clinical-stage biotechnology company developing allogeneic, or donor-derived, natural killer (NK) cell therapies. Its approach is designed to provide ready-made cell treatments for patients with cancer and autoimmune diseases. The company’s lead candidate, AlloNK (also known as AB-101), is an investigational NK cell therapy being studied in combination with antibody treatments. Artiva is evaluating its potential in autoimmune conditions and in cancers, including B-cell malignancies.