Artiva Biotherapeutics (NASDAQ:ARTV) Announces Quarterly Earnings Results

Artiva Biotherapeutics (NASDAQ:ARTV) posted its quarterly earnings data on Thursday. The company reported ($0.63) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.63), FiscalAI reports.

Artiva Biotherapeutics Stock Down 2.7%

ARTV traded down $0.31 on Friday, reaching $11.27. 214,660 shares of the company traded hands, compared to its average volume of 410,099. The company has a market cap of $278.59 million, a P/E ratio of -3.42 and a beta of 2.16. Artiva Biotherapeutics has a one year low of $2.22 and a one year high of $14.53. The firm has a fifty day simple moving average of $9.36 and a two-hundred day simple moving average of $7.74.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. purchased 6,510,416 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $11.52 per share, with a total value of $74,999,992.32. Following the completion of the purchase, the director owned 15,203,995 shares of the company’s stock, valued at approximately $175,150,022.40. The trade was a 74.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Corp. Gc bought 1,085,069 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $11.52 per share, with a total value of $12,499,994.88. Following the completion of the transaction, the insider owned 4,391,969 shares in the company, valued at $50,595,482.88. This represents a 32.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 9,907,958 shares of company stock worth $107,688,019 and have sold 53,040 shares worth $477,890. Company insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARTV. Prelude Capital Management LLC purchased a new stake in shares of Artiva Biotherapeutics in the 3rd quarter worth approximately $41,000. Bank of America Corp DE increased its holdings in 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 buying an additional 11,190 shares during the period. Bridgeway Capital Management LLC bought a new position in Artiva Biotherapeutics in the second quarter worth approximately $53,000. Qube Research & Technologies Ltd bought a new position in Artiva Biotherapeutics in the second quarter worth approximately $58,000. Finally, Jane Street Group LLC purchased a new stake in Artiva Biotherapeutics during the second quarter worth $67,000.

Analyst Ratings Changes

A number of equities analysts recently commented on ARTV shares. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Artiva Biotherapeutics in a research note on Monday, June 8th. HC Wainwright increased their price objective on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Artiva Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Artiva Biotherapeutics in a research report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.