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

Key Points

• Artiva Biotherapeutics reported a quarterly loss of $0.56 per share, missing analyst expectations of a $0.54 loss by $0.02.
• Shares traded at $4.22, near the bottom of their 12-month range of $2.96–$14.53; the stock is down from its 50-day and 200-day moving averages.
• Analyst sentiment has weakened, with several firms downgrading the stock; the consensus rating is Hold. Company insiders sold 137,048 shares worth about $1.09 million over the past 90 days.

Artiva Biotherapeutics (NASDAQ:ARTV - Get Free Report) issued its earnings results on Monday. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.02), FiscalAI reports.

Artiva Biotherapeutics Price Performance

Shares of ARTV stock traded up $0.07 during trading hours on Monday, reaching $4.22. The company had a trading volume of 939,952 shares, compared to its average volume of 473,325. Artiva Biotherapeutics has a 12 month low of $2.96 and a 12 month high of $14.53. The business has a fifty day simple moving average of $7.37 and a 200-day simple moving average of $7.95. The company has a market cap of $206.32 million, a price-to-earnings ratio of -1.28 and a beta of 2.68.

Insider Buying and Selling

In related news, insider Subhashis Banerjee sold 8,222 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $12.01, for a total transaction of $98,746.22. Following the completion of the sale, the insider owned 142,047 shares in the company, valued at approximately $1,705,984.47. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher Horan sold 10,340 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $6.84, for a total value of $70,725.60. Following the completion of the sale, the insider directly owned 312,744 shares of the company's stock, valued at $2,139,168.96. The trade was a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 137,048 shares of company stock worth $1,086,167 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Artiva Biotherapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. TD Cowen lowered shares of Artiva Biotherapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, October 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Artiva Biotherapeutics in a research note on Monday, October 19th. Jefferies Financial Group cut shares of Artiva Biotherapeutics from a "buy" rating to a "hold" rating and set a $4.00 price objective for the company. in a report on Thursday, October 29th. Finally, Needham & Company LLC downgraded shares of Artiva Biotherapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, October 27th. Two 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.com, the stock has a consensus rating of "Hold" and an average price target of $24.80.

Artiva Biotherapeutics Company Profile

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.

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