Artiva Biotherapeutics (NASDAQ:ARTV) Posts Earnings Results

Artiva Biotherapeutics (NASDAQ:ARTV) released its quarterly earnings results on Tuesday. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.02, Zacks reports.

Artiva Biotherapeutics Stock Up 1.9%

NASDAQ ARTV traded up $0.07 on Wednesday, hitting $3.66. 335,150 shares of the stock were exchanged, compared to its average volume of 790,575. Artiva Biotherapeutics has a fifty-two week low of $1.47 and a fifty-two week high of $13.85. The company has a 50-day moving average price of $3.36 and a 200-day moving average price of $2.67. The company has a market cap of $89.40 million, a PE ratio of -1.40 and a beta of 3.06.

Analyst Upgrades and Downgrades

ARTV has been the subject of a number of research reports. HC Wainwright lifted their price objective on Artiva Biotherapeutics from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush raised their target price on Artiva Biotherapeutics from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Thursday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Artiva Biotherapeutics in a research note on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Insider Activity at Artiva Biotherapeutics

In other Artiva Biotherapeutics news, CEO Fred Aslan sold 25,500 shares of the firm’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $6.00, for a total value of $153,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On Artiva Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC acquired a new stake in Artiva Biotherapeutics during the second quarter worth approximately $53,000. Qube Research & Technologies Ltd purchased a new position in shares of Artiva Biotherapeutics in the 2nd quarter valued at $58,000. Jane Street Group LLC acquired a new stake in Artiva Biotherapeutics during the 2nd quarter worth $67,000. Finally, Marshall Wace LLP purchased a new stake in Artiva Biotherapeutics in the second quarter valued at $79,000.

Artiva Biotherapeutics Company Profile

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.