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

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

Artiva Biotherapeutics Stock Performance

Shares of NASDAQ ARTV traded up $0.21 during mid-day trading on Wednesday, reaching $3.80. The company had a trading volume of 339,232 shares, compared to its average volume of 790,585. Artiva Biotherapeutics has a twelve month low of $1.47 and a twelve month high of $13.85. The stock’s 50 day moving average is $3.36 and its 200-day moving average is $2.67. The stock has a market capitalization of $92.70 million, a PE ratio of -1.44 and a beta of 3.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Artiva Biotherapeutics in a report on Friday, October 17th. Wedbush increased their target price on shares of Artiva Biotherapeutics from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research report on Thursday, October 30th. Finally, HC Wainwright increased their price objective on Artiva Biotherapeutics from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Artiva Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Insider Buying and Selling

In other news, CEO Fred Aslan sold 25,500 shares of Artiva Biotherapeutics stock in a transaction dated Friday, October 17th. The stock was 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 directly owned 356,721 shares in the company, valued at $2,140,326. The trade was a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 21.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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