Actuate Therapeutics (NASDAQ:ACTU) Shares Down 7.5% – Here’s What Happened

Shares of Actuate Therapeutics, Inc. (NASDAQ:ACTU) dropped 7.5% on Thursday . The stock traded as low as $1.16 and last traded at $1.23. 663,710 shares traded hands during trading, an increase of 242% from the average daily volume of 194,247 shares. The stock had previously closed at $1.33.

Analyst Ratings Changes

A number of research firms have issued reports on ACTU. Weiss Ratings reiterated a “sell (e+)” rating on shares of Actuate Therapeutics in a research report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating on shares of Actuate Therapeutics in a report on Wednesday, June 10th. Finally, Wall Street Zen downgraded shares of Actuate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Actuate Therapeutics has an average rating of “Hold” and a consensus target price of $17.50.

Actuate Therapeutics Stock Down 1.6%

The business’s 50 day simple moving average is $2.13 and its two-hundred day simple moving average is $3.33. The stock has a market cap of $28.96 million, a P/E ratio of -1.25 and a beta of 0.67.

Actuate Therapeutics (NASDAQ:ACTU) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). As a group, research analysts forecast that Actuate Therapeutics, Inc. will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Actuate Therapeutics

Several large investors have recently bought and sold shares of ACTU. ABS Direct Equity Fund LLC boosted its stake in shares of Actuate Therapeutics by 657.9% during the first quarter. ABS Direct Equity Fund LLC now owns 50,000 shares of the company’s stock valued at $137,000 after purchasing an additional 43,403 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Actuate Therapeutics in the fourth quarter valued at approximately $190,000. Royal Bank of Canada raised its holdings in Actuate Therapeutics by 172.2% in the 4th quarter. Royal Bank of Canada now owns 35,263 shares of the company’s stock valued at $215,000 after buying an additional 22,309 shares during the last quarter. Barclays PLC raised its holdings in Actuate Therapeutics by 68.6% in the 4th quarter. Barclays PLC now owns 14,946 shares of the company’s stock valued at $91,000 after buying an additional 6,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Actuate Therapeutics by 61.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,841 shares of the company’s stock worth $146,000 after buying an additional 9,076 shares during the period.

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.