Actuate Therapeutics (NASDAQ:ACTU) Releases Earnings Results

Actuate Therapeutics (NASDAQ:ACTU) announced its earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01), Zacks reports.

Actuate Therapeutics Stock Down 9.7%

NASDAQ ACTU traded down $0.28 during trading on Friday, reaching $2.62. 85,616 shares of the stock traded hands, compared to its average volume of 204,338. The firm has a market cap of $62.12 million, a price-to-earnings ratio of -2.70 and a beta of 0.92. The stock’s 50-day moving average price is $2.56 and its 200 day moving average price is $4.67. Actuate Therapeutics has a fifty-two week low of $1.58 and a fifty-two week high of $11.99.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC acquired a new position in Actuate Therapeutics during the fourth quarter valued at approximately $190,000. Royal Bank of Canada grew its holdings in Actuate Therapeutics by 172.2% during the fourth quarter. Royal Bank of Canada now owns 35,263 shares of the company’s stock valued at $215,000 after purchasing an additional 22,309 shares during the period. Barclays PLC grew its holdings in Actuate Therapeutics by 68.6% during the fourth quarter. Barclays PLC now owns 14,946 shares of the company’s stock valued at $91,000 after purchasing an additional 6,081 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Actuate Therapeutics by 61.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,841 shares of the company’s stock valued at $146,000 after purchasing an additional 9,076 shares during the period. Finally, State Street Corp grew its holdings in Actuate Therapeutics by 12.8% during the fourth quarter. State Street Corp now owns 56,290 shares of the company’s stock valued at $344,000 after purchasing an additional 6,395 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ACTU shares. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Actuate Therapeutics in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Friday, March 27th. Finally, Wall Street Zen raised shares of Actuate Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.50.

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.