Artiva Biotherapeutics (NASDAQ:ARTV) Announces Quarterly Earnings Results

Artiva Biotherapeutics (NASDAQ:ARTV) issued its quarterly earnings results on Thursday. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.01, FiscalAI reports.

Artiva Biotherapeutics Stock Performance

ARTV stock traded down $0.01 on Thursday, reaching $11.58. The company’s stock had a trading volume of 321,608 shares, compared to its average volume of 390,742. The firm has a market cap of $286.22 million, a PE ratio of -3.27 and a beta of 2.16. The business has a fifty day simple moving average of $9.29 and a two-hundred day simple moving average of $7.72. Artiva Biotherapeutics has a 12-month low of $2.22 and a 12-month high of $14.53.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARTV. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Artiva Biotherapeutics in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, July 21st. Wedbush lifted their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, May 26th. Finally, Wall Street Zen cut Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Artiva Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Insider Buying and Selling at Artiva Biotherapeutics

In related news, major shareholder Corp. Gc bought 1,085,069 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $11.52 per share, with a total value of $12,499,994.88. Following the purchase, the insider owned 4,391,969 shares of the company’s stock, valued at approximately $50,595,482.88. This trade represents a 32.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ra Capital Management, L.P. purchased 6,510,416 shares of Artiva Biotherapeutics stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $11.52 per share, for a total transaction of $74,999,992.32. Following the transaction, the director directly owned 15,203,995 shares of the company’s stock, valued at $175,150,022.40. This trade represents a 74.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 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 corporate insiders.

Hedge Funds Weigh In On Artiva Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in ARTV. Bank of America Corp DE increased its stake in shares of Artiva Biotherapeutics by 225.8% during the third quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock valued at $46,000 after purchasing an additional 11,190 shares in the last quarter. Prelude Capital Management LLC purchased a new position in Artiva Biotherapeutics during the third quarter valued at $41,000. OMERS ADMINISTRATION Corp bought a new stake in Artiva Biotherapeutics in the fourth quarter worth $91,000. Bridgeway Capital Management LLC bought a new stake in Artiva Biotherapeutics in the second quarter worth $53,000. Finally, Renaissance Technologies LLC grew its stake in shares of Artiva Biotherapeutics by 46.8% in the fourth quarter. Renaissance Technologies LLC now owns 116,200 shares of the company’s stock worth $498,000 after acquiring an additional 37,053 shares during 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.