Actuate Therapeutics (NASDAQ:ACTU) Shares Up 0.5% After Better-Than-Expected Earnings

Actuate Therapeutics, Inc. (NASDAQ:ACTU) was up 0.5% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $6.18 and last traded at $5.91. Approximately 14,501 shares changed hands during 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 for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ACTU shares. 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 reaffirmed a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Actuate Therapeutics in a research note on Tuesday, September 23rd. Finally, B. Riley began coverage on Actuate Therapeutics in a research note 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sigma Planning Corp boosted its stake in shares of Actuate Therapeutics by 47.3% in the first 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 period. Sfmg LLC acquired a new stake in shares of Actuate Therapeutics during the first quarter worth approximately $74,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Actuate Therapeutics during the first quarter worth approximately $70,000. Voss Capital LP increased its stake in shares of Actuate Therapeutics by 157.7% in the first quarter. Voss Capital LP now owns 142,381 shares of the company’s stock worth $964,000 after buying an additional 87,135 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Actuate Therapeutics by 98.7% in the first quarter. Goldman Sachs Group Inc. now owns 22,358 shares of the company’s stock valued at $151,000 after acquiring an additional 11,105 shares in the last quarter.

Actuate Therapeutics Trading Up 0.5%

The stock’s 50 day simple moving average is $6.97 and its 200 day simple moving average is $7.76. The stock has a market capitalization of $137.35 million, a P/E ratio of -5.05 and a beta of -0.23.

About Actuate Therapeutics

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.