Actuate Therapeutics (NASDAQ:ACTU) Stock Price Up 0.5% on Better-Than-Expected Earnings

Actuate Therapeutics, Inc. (NASDAQ:ACTU) rose 0.5% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $6.18 and last traded at $5.91. Approximately 14,501 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 45,878 shares. The stock had previously closed at $5.88.

The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02.

Analyst Upgrades and Downgrades

ACTU has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Actuate Therapeutics in a research report on Tuesday, September 23rd. Wall Street Zen raised shares of Actuate Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Actuate Therapeutics in a research report on Thursday. Finally, B. Riley began coverage on Actuate Therapeutics in a report on Tuesday, August 26th. They issued a “buy” rating and a $20.00 target price for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.33.

Institutional Investors Weigh In On Actuate Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sfmg LLC increased its position in shares of Actuate Therapeutics by 32.3% during the second quarter. Sfmg LLC now owns 14,550 shares of the company’s stock worth $89,000 after acquiring an additional 3,550 shares during the period. Sigma Planning Corp lifted its holdings in shares of Actuate Therapeutics by 47.3% during the 1st quarter. Sigma Planning Corp now owns 23,675 shares of the company’s stock valued at $160,000 after purchasing an additional 7,600 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Actuate Therapeutics in the first quarter worth about $70,000. Goldman Sachs Group Inc. grew its position in Actuate Therapeutics by 98.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,358 shares of the company’s stock worth $151,000 after purchasing an additional 11,105 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Actuate Therapeutics by 61,068.0% during the second quarter. Bank of America Corp DE now owns 15,292 shares of the company’s stock valued at $93,000 after buying an additional 15,267 shares during the last quarter.

Actuate Therapeutics Price Performance

The firm has a market capitalization of $137.35 million, a price-to-earnings ratio of -5.05 and a beta of -0.23. The business has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $7.76.

Actuate Therapeutics Company Profile

Actuate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for the treatment of cancers. The company’s lead product candidate is Elraglusib Injection, a novel glycogen synthase kinase-3 inhibitor to treat metastatic pancreatic ductal adenocarcinoma. It also develops Elraglusib for the treatment of Ewing sarcoma, metastatic melanoma, and colorectal cancer.