Actuate Therapeutics (NASDAQ:ACTU) Trading 2.7% Higher – Here’s What Happened

Actuate Therapeutics, Inc. (NASDAQ:ACTU)’s stock price was up 2.7% during mid-day trading on Tuesday . The stock traded as high as $6.24 and last traded at $6.02. Approximately 57,203 shares changed hands during trading, a decline of 32% from the average daily volume of 84,692 shares. The stock had previously closed at $5.86.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACTU. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Actuate Therapeutics in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Actuate Therapeutics in a research report on Monday. Finally, Wall Street Zen raised shares of Actuate Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

Actuate Therapeutics Price Performance

The firm has a market cap of $139.90 million, a PE ratio of -6.92 and a beta of -0.34. The company has a 50-day simple moving average of $6.70 and a 200-day simple moving average of $7.06.

Actuate Therapeutics (NASDAQ:ACTU) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02.

Institutional Investors Weigh In On Actuate Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voss Capital LP increased its position in shares of Actuate Therapeutics by 213.2% during the third quarter. Voss Capital LP now owns 896,278 shares of the company’s stock worth $5,996,000 after acquiring an additional 610,138 shares during the period. BIOS Capital Management LP increased its holdings in Actuate Therapeutics by 0.9% during the 3rd quarter. BIOS Capital Management LP now owns 10,049,996 shares of the company’s stock worth $67,234,000 after purchasing an additional 84,917 shares during the period. Geode Capital Management LLC increased its holdings in Actuate Therapeutics by 252.5% during the 2nd quarter. Geode Capital Management LLC now owns 118,050 shares of the company’s stock worth $721,000 after purchasing an additional 84,561 shares during the period. Vanguard Group Inc. raised its position in Actuate Therapeutics by 19.5% during the 3rd quarter. Vanguard Group Inc. now owns 316,010 shares of the company’s stock valued at $2,114,000 after purchasing an additional 51,546 shares in the last quarter. Finally, Gleason Group Inc. purchased a new stake in shares of Actuate Therapeutics in the 2nd quarter worth $116,000.

About Actuate Therapeutics

Actuate Therapeutics (NASDAQ: ACTU) is a clinical-stage oncology company focused on the discovery and development of targeted therapies designed to address key drivers of tumor growth and survival. Headquartered in South San Francisco, California, the company applies a precision medicine approach to identify novel molecular targets and develop small-molecule agents that have the potential to improve outcomes for patients with difficult-to-treat cancers.

The company’s lead asset, atuveciclib, is a selective, oral CDK9 inhibitor being evaluated in a Phase 1 clinical trial for patients with acute myeloid leukemia and advanced solid tumors.