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

Artiva Biotherapeutics (NASDAQ:ARTV) released its quarterly earnings data on Monday. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.02), FiscalAI reports.

Artiva Biotherapeutics Trading Up 1.7%

ARTV opened at $4.22 on Tuesday. The stock has a 50-day moving average price of $7.23 and a 200-day moving average price of $7.95. Artiva Biotherapeutics has a 12-month low of $2.96 and a 12-month high of $14.53.

Insider Transactions at Artiva Biotherapeutics

In other Artiva Biotherapeutics news, insider Christopher Horan sold 10,340 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $6.84, for a total value of $70,725.60. Following the completion of the sale, the insider owned 312,744 shares of the company’s stock, valued at $2,139,168.96. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Subhashis Banerjee sold 8,222 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $12.01, for a total transaction of $98,746.22. Following the transaction, the insider owned 142,047 shares in the company, valued at $1,705,984.47. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 137,048 shares of company stock valued at $1,086,167. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ARTV shares. Wedbush lowered Artiva Biotherapeutics from an “outperform” rating to a “neutral” rating and set a $4.00 price target for the company. in a report on Tuesday, October 27th. Jefferies Financial Group cut Artiva Biotherapeutics from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Thursday, October 29th. HC Wainwright restated a “buy” rating on shares of Artiva Biotherapeutics in a research note on Friday, October 2nd. TD Cowen lowered Artiva Biotherapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artiva Biotherapeutics in a report on Monday, October 19th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.80.

About Artiva Biotherapeutics

Artiva Biotherapeutics, Inc is a clinical-stage biotechnology company developing off-the-shelf, allogeneic natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is intended to provide readily available cell-based treatments that can be manufactured in advance and administered without using each patient’s own cells.

Artiva’s lead product candidate is AlloNK, also known as AB-101, an allogeneic NK cell therapy derived from umbilical cord blood. The company is evaluating AlloNK in combination with antibody treatments, including rituximab, for conditions such as B-cell malignancies and autoimmune diseases.