Actuate Therapeutics (NASDAQ:ACTU) Releases Quarterly Earnings Results

Actuate Therapeutics (NASDAQ:ACTU) issued its earnings results on Friday. The company reported ($0.14) EPS for the quarter, FiscalAI reports.

Actuate Therapeutics Trading Down 3.6%

NASDAQ ACTU traded down $0.01 on Friday, reaching $0.29. The stock had a trading volume of 174,166 shares, compared to its average volume of 247,512. Actuate Therapeutics has a 1 year low of $0.28 and a 1 year high of $7.90. The business has a 50 day moving average price of $0.69 and a 200 day moving average price of $1.95. The company has a market capitalization of $6.85 million, a price-to-earnings ratio of -0.33 and a beta of 1.53.

Insiders Place Their Bets

In other Actuate Therapeutics news, CEO Daniel M. Schmitt bought 140,844 shares of Actuate Therapeutics stock in a transaction on Wednesday, October 28th. The stock was purchased at an average cost of $0.35 per share, for a total transaction of $49,295.40. Following the completion of the purchase, the chief executive officer directly owned 442,560 shares of the company’s stock, valued at $154,896. The trade was a 46.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 57.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACTU. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Actuate Therapeutics in the 2nd quarter valued at $157,000. Palogic Value Management L.P. acquired a new position in Actuate Therapeutics during the second quarter worth $153,000. BlackRock Inc. acquired a new stake in shares of Actuate Therapeutics in the second quarter worth about $138,000. ABS Investment Management LLC bought a new stake in shares of Actuate Therapeutics during the 2nd quarter worth about $111,975. Finally, ABS Direct Equity Fund LLC boosted its stake in shares of Actuate Therapeutics by 657.9% during the 1st quarter. ABS Direct Equity Fund LLC now owns 50,000 shares of the company’s stock worth $137,000 after acquiring an additional 43,403 shares in the last quarter.

Analysts Set New Price Targets

ACTU has been the topic of several recent analyst reports. Rodman & Renshaw started coverage on Actuate Therapeutics in a research report on Thursday, July 30th. They set a “buy” rating and a $6.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Monday, September 21st. Finally, HC Wainwright restated a “buy” rating on shares of Actuate Therapeutics in a research report on Tuesday, August 18th. Two 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 currently has a consensus rating of “Hold” and an average target price of $10.50.

Actuate Therapeutics Company Profile

Actuate Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company’s lead product candidate is elraglusib, an investigational small-molecule inhibitor of glycogen synthase kinase-3 beta (GSK-3β), an enzyme involved in tumor growth, inflammation and immune regulation. Actuate is evaluating elraglusib in clinical studies involving hematologic malignancies and solid tumors, including acute myeloid leukemia, pancreatic cancer and other difficult-to-treat cancers.