Insider Buying: Actuate Therapeutics (NASDAQ:ACTU) CEO Purchases $49,295.40 in Stock

Actuate Therapeutics, Inc. (NASDAQ:ACTU) CEO Daniel Schmitt bought 140,844 shares of Actuate Therapeutics stock in a transaction that occurred on Wednesday, October 28th. The stock was purchased at an average cost of $0.35 per share, with a total value of $49,295.40. Following the completion of the transaction, the chief executive officer owned 442,560 shares of the company’s stock, valued at $154,896. This trade represents a 46.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Actuate Therapeutics Price Performance

Shares of ACTU traded up $0.00 during mid-day trading on Thursday, reaching $0.39. The company had a trading volume of 375,143 shares, compared to its average volume of 242,141. The company has a market capitalization of $9.32 million, a P/E ratio of -0.45 and a beta of 1.20. The company’s 50-day moving average is $0.93 and its 200-day moving average is $2.24. Actuate Therapeutics, Inc. has a twelve month low of $0.35 and a twelve month high of $7.90.

Actuate Therapeutics (NASDAQ:ACTU) last posted its earnings results on Friday, August 14th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. As a group, equities analysts expect that Actuate Therapeutics, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Rodman & Renshaw initiated coverage on shares of Actuate Therapeutics in a research report on Thursday, July 30th. They set a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Monday, September 21st. Finally, HC Wainwright reiterated 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 assigned a Sell rating to the company. Based on data from MarketBeat, Actuate Therapeutics has an average rating of “Hold” and an average target price of $10.50.

Institutional Trading of Actuate Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in Actuate Therapeutics during the 2nd quarter worth approximately $28,000. ABS Direct Equity Fund LLC increased its stake in Actuate Therapeutics by 46.4% in the second quarter. ABS Direct Equity Fund LLC now owns 73,186 shares of the company’s stock valued at $112,000 after purchasing an additional 23,186 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Actuate Therapeutics in the second quarter worth $43,000. HighTower Advisors LLC acquired a new stake in Actuate Therapeutics in the second quarter worth $56,000. Finally, ABS Investment Management LLC acquired a new stake in Actuate Therapeutics in the second quarter worth $111,975.

About Actuate Therapeutics

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-3?), 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.