Artiva Biotherapeutics (NASDAQ:ARTV) Posts Earnings Results, Beats Expectations By $0.01 EPS

Artiva Biotherapeutics (NASDAQ:ARTV) announced its quarterly earnings results on Thursday. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.01, FiscalAI reports.

Artiva Biotherapeutics Trading Down 0.1%

ARTV stock traded down $0.01 during trading on Thursday, reaching $11.58. The stock had a trading volume of 321,608 shares, compared to its average volume of 390,742. The stock’s 50 day moving average is $9.29 and its two-hundred day moving average is $7.72. The firm has a market cap of $286.22 million, a PE ratio of -3.27 and a beta of 2.16. Artiva Biotherapeutics has a 52 week low of $2.22 and a 52 week high of $14.53.

Insider Buying and Selling

In other Artiva Biotherapeutics news, Director Ra Capital Management, L.P. purchased 6,510,416 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $11.52 per share, for a total transaction of $74,999,992.32. Following the purchase, the director directly owned 15,203,995 shares of the company’s stock, valued at $175,150,022.40. The trade was a 74.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corp. Gc purchased 1,085,069 shares of Artiva Biotherapeutics stock in a transaction on Monday, May 11th. The stock was bought at an average price of $11.52 per share, with a total value of $12,499,994.88. Following the transaction, the insider owned 4,391,969 shares of the company’s stock, valued at approximately $50,595,482.88. This represents a 32.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 9,907,958 shares of company stock worth $107,688,019 and sold 53,040 shares worth $477,890. Company insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Artiva Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in Artiva Biotherapeutics in the 2nd quarter worth $79,000. Qube Research & Technologies Ltd purchased a new stake in shares of Artiva Biotherapeutics during the 2nd quarter worth approximately $58,000. Jane Street Group LLC purchased a new position in shares of Artiva Biotherapeutics in the 2nd quarter worth $67,000. Bridgeway Capital Management LLC bought a new stake in shares of Artiva Biotherapeutics in the 2nd quarter worth about $53,000. Finally, BNP Paribas Financial Markets lifted its stake 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 purchasing an additional 117,733 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen lowered Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Artiva Biotherapeutics in a report on Tuesday, May 26th. Wedbush increased their price objective on Artiva Biotherapeutics from $23.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. HC Wainwright upped their target price on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Artiva Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $39.00.

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.