Actuate Therapeutics (NASDAQ:ACTU) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Actuate Therapeutics (NASDAQ:ACTU) announced its quarterly earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.06, FiscalAI reports.

Actuate Therapeutics Stock Down 2.2%

Shares of Actuate Therapeutics stock opened at $2.27 on Friday. The firm has a market cap of $52.76 million, a PE ratio of -2.61 and a beta of 0.10. Actuate Therapeutics has a 52 week low of $2.15 and a 52 week high of $11.99. The business’s fifty day simple moving average is $3.92 and its 200-day simple moving average is $5.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ACTU shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Monday, December 29th. Wall Street Zen cut shares of Actuate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Actuate Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

Insider Activity

In related news, Director Todd S. Thomson sold 280,000 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $5.80, for a total value of $1,624,000.00. Following the sale, the director directly owned 904,795 shares in the company, valued at approximately $5,247,811. The trade was a 23.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 69.34% of the company’s stock.

Institutional Investors Weigh In On Actuate Therapeutics

A number of institutional investors have recently made changes to their positions in ACTU. ABS Direct Equity Fund LLC acquired a new position in shares of Actuate Therapeutics in the 4th quarter worth approximately $40,000. Deutsche Bank AG increased its holdings in Actuate Therapeutics by 640.0% in the 4th quarter. Deutsche Bank AG now owns 9,309 shares of the company’s stock valued at $57,000 after purchasing an additional 8,051 shares during the last quarter. Barclays PLC raised its position in Actuate Therapeutics by 68.6% in 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. Bank of America Corp DE lifted its stake in Actuate Therapeutics by 61,068.0% during the second quarter. Bank of America Corp DE now owns 15,292 shares of the company’s stock worth $93,000 after purchasing an additional 15,267 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Actuate Therapeutics during the fourth quarter worth $102,000.

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.