Wall Street Zen Downgrades Actuate Therapeutics (NASDAQ:ACTU) to Sell

Actuate Therapeutics (NASDAQ:ACTU) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other brokerages have also recently issued reports on ACTU. HC Wainwright restated 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 report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.33.

Actuate Therapeutics Stock Up 7.0%

Shares of Actuate Therapeutics stock opened at $5.69 on Friday. The business has a fifty day simple moving average of $6.51 and a 200 day simple moving average of $6.97. The stock has a market cap of $132.24 million, a PE ratio of -6.54 and a beta of -0.15. Actuate Therapeutics has a 12 month low of $5.08 and a 12 month high of $11.99.

Actuate Therapeutics (NASDAQ:ACTU) last issued its 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.

Insider Activity at Actuate Therapeutics

In other news, Director Todd S. Thomson sold 280,000 shares of Actuate Therapeutics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $5.80, for a total transaction of $1,624,000.00. Following the completion of the transaction, the director directly owned 904,795 shares of the company’s stock, valued at $5,247,811. The trade was a 23.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 69.34% of the stock is owned by insiders.

Institutional Trading of Actuate Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voss Capital LP boosted its stake in shares of Actuate Therapeutics by 101.0% during the 2nd quarter. Voss Capital LP now owns 286,140 shares of the company’s stock worth $1,748,000 after acquiring an additional 143,759 shares in the last quarter. BIOS Capital Management LP increased its stake in shares of Actuate Therapeutics by 0.7% in the 2nd quarter. BIOS Capital Management LP now owns 9,965,079 shares of the company’s stock valued at $60,887,000 after purchasing an additional 71,428 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Actuate Therapeutics by 98.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,358 shares of the company’s stock worth $151,000 after purchasing an additional 11,105 shares during the period. Gleason Group Inc. purchased a new position in Actuate Therapeutics during the second quarter worth approximately $116,000. Finally, Sfmg LLC boosted its position in Actuate Therapeutics by 32.3% during the second quarter. Sfmg LLC now owns 14,550 shares of the company’s stock worth $89,000 after purchasing an additional 3,550 shares in the last quarter.

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.