Artiva Biotherapeutics, Inc. (NASDAQ:ARTV – Get Free Report) was the target of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,025,413 shares, a growth of 113.4% from the May 14th total of 480,610 shares. Approximately 5.3% of the shares of the company are sold short. Based on an average daily volume of 518,668 shares, the days-to-cover ratio is currently 2.0 days.
Artiva Biotherapeutics Stock Up 6.7%
Shares of NASDAQ:ARTV traded up $0.54 during trading on Friday, reaching $8.54. 1,431,670 shares of the company traded hands, compared to its average volume of 522,022. The company’s 50 day moving average is $8.93 and its two-hundred day moving average is $6.14. The firm has a market capitalization of $211.11 million, a PE ratio of -2.41 and a beta of 2.38. Artiva Biotherapeutics has a 52 week low of $1.47 and a 52 week high of $14.53.
Artiva Biotherapeutics (NASDAQ:ARTV – Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). As a group, research analysts anticipate that Artiva Biotherapeutics will post -2.45 EPS for the current year.
Analysts Set New Price Targets
Read Our Latest Stock Report on ARTV
Insiders Place Their Bets
In other news, Director Ra Capital Management, L.P. purchased 548,580 shares of Artiva Biotherapeutics stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $7.91 per share, for a total transaction of $4,339,267.80. Following the purchase, the director directly owned 16,231,717 shares of the company’s stock, valued at $128,392,881.47. This trade represents a 3.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fred Aslan sold 27,116 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $9.01, for a total value of $244,315.16. Following the completion of the sale, the chief executive officer owned 1,535,082 shares of the company’s stock, valued at $13,831,088.82. This trade represents a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders purchased 8,970,429 shares of company stock worth $99,150,133 and sold 53,040 shares worth $477,890. Company insiders own 21.40% of the company’s stock.
Institutional Trading of Artiva Biotherapeutics
Institutional investors have recently modified their holdings of the stock. Prelude Capital Management LLC bought a new stake in shares of Artiva Biotherapeutics during the 3rd quarter worth $41,000. Bank of America Corp DE lifted its position in shares of Artiva Biotherapeutics by 225.8% during the 3rd quarter. Bank of America Corp DE now owns 16,145 shares of the company’s stock worth $46,000 after buying an additional 11,190 shares during the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of Artiva Biotherapeutics during the 2nd quarter worth $53,000. Qube Research & Technologies Ltd bought a new stake in shares of Artiva Biotherapeutics during the 2nd quarter worth $58,000. Finally, Jane Street Group LLC bought a new stake in shares of Artiva Biotherapeutics during the 2nd quarter worth $67,000.
About Artiva Biotherapeutics
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.
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