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

Artiva Biotherapeutics (NASDAQ:ARTV) posted its quarterly earnings data 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 Down 2.6%

Shares of NASDAQ:ARTV traded down $0.09 on Wednesday, reaching $3.50. 311,437 shares of the company’s stock were exchanged, compared to its average volume of 790,435. The business’s 50-day moving average is $3.36 and its two-hundred day moving average is $2.67. Artiva Biotherapeutics has a fifty-two week low of $1.47 and a fifty-two week high of $13.85. The firm has a market capitalization of $85.41 million, a price-to-earnings ratio of -1.31 and a beta of 3.06.

Analysts Set New Price Targets

ARTV has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Artiva Biotherapeutics in a report on Friday, October 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Thursday, October 30th. Finally, Wedbush increased their price target on Artiva Biotherapeutics from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

Insider Activity at Artiva Biotherapeutics

In related news, CEO Fred Aslan sold 25,500 shares of the business’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $6.00, for a total transaction of $153,000.00. Following the completion of the sale, the chief executive officer owned 356,721 shares of the company’s stock, valued at $2,140,326. This represents a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On Artiva Biotherapeutics

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

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.