Artiva Biotherapeutics (NASDAQ:ARTV) Announces Earnings Results

Key Points

• Artiva Biotherapeutics reported quarterly EPS of ($0.95), missing analysts’ consensus estimate of ($0.88) by $0.07.
• The stock fell sharply after the report, trading down to $10.89 on unusually heavy volume of 5.28 million shares, far above its average daily volume.
• Analyst sentiment remains mixed but generally positive overall, with a Moderate Buy consensus and a consensus price target of $25.33; HC Wainwright notably raised its target to $35.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) issued its quarterly earnings results on Friday. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.07), FiscalAI reports.

Artiva Biotherapeutics Price Performance

NASDAQ ARTV traded down $1.63 on Friday, hitting $10.89. 5,282,467 shares of the company were exchanged, compared to its average volume of 360,749. The company's 50 day moving average price is $7.59 and its 200-day moving average price is $5.35. Artiva Biotherapeutics has a twelve month low of $1.47 and a twelve month high of $14.53.

Analysts Set New Price Targets

ARTV has been the subject of a number of research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Artiva Biotherapeutics in a report on Friday, April 24th. HC Wainwright upped their price target on shares of Artiva Biotherapeutics from $15.00 to $35.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen downgraded shares of Artiva Biotherapeutics from a "hold" rating to a "sell" rating in a report on Tuesday, April 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Artiva Biotherapeutics in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.33.

Institutional Trading of Artiva Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC raised its holdings in Artiva Biotherapeutics by 419.3% during the 3rd quarter. Citadel Advisors LLC now owns 798,397 shares of the company's stock worth $2,291,000 after buying an additional 644,658 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Artiva Biotherapeutics by 14,463.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 118,547 shares of the company's stock valued at $340,000 after purchasing an additional 117,733 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Artiva Biotherapeutics by 46.8% in the 4th quarter. Renaissance Technologies LLC now owns 116,200 shares of the company's stock valued at $498,000 after purchasing an additional 37,053 shares during the period. Marshall Wace LLP acquired a new position in shares of Artiva Biotherapeutics in the 4th quarter valued at about $341,000. Finally, Jane Street Group LLC acquired a new position in shares of Artiva Biotherapeutics in the 2nd quarter valued at about $67,000.

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.

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