Insider Buying: Actuate Therapeutics (NASDAQ:ACTU) CEO Buys 140,844 Shares of Stock

Actuate Therapeutics, Inc. (NASDAQ:ACTU) CEO Daniel Schmitt bought 140,844 shares of Actuate Therapeutics stock in a transaction on Wednesday, October 28th. The shares were acquired at an average price of $0.35 per share, for a total transaction of $49,295.40. Following the completion of the acquisition, the chief executive officer owned 442,560 shares of the company’s stock, valued at approximately $154,896. This represents a 46.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Actuate Therapeutics Price Performance

ACTU traded up $0.00 during 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 cap of $9.32 million, a P/E ratio of -0.45 and a beta of 1.20. Actuate Therapeutics, Inc. has a 12 month low of $0.35 and a 12 month high of $7.90. The business’s fifty day moving average price is $0.93 and its 200 day moving average price is $2.24.

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

Analysts Set New Price Targets

ACTU has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating on shares of Actuate Therapeutics in a research report on Tuesday, August 18th. Rodman & Renshaw assumed coverage on Actuate Therapeutics in a research report on Thursday, July 30th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.50.

Hedge Funds Weigh In On Actuate Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACTU. ABS Direct Equity Fund LLC lifted its position in Actuate Therapeutics by 46.4% during the second quarter. ABS Direct Equity Fund LLC now owns 73,186 shares of the company’s stock worth $112,000 after acquiring an additional 23,186 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Actuate Therapeutics during the second quarter worth approximately $56,000. Susquehanna International Group LLP acquired a new position in shares of Actuate Therapeutics in the second quarter valued at approximately $43,000. Palogic Value Management L.P. acquired a new position in shares of Actuate Therapeutics in the second quarter valued at approximately $153,000. Finally, ABS Investment Management LLC acquired a new position in shares of Actuate Therapeutics in the second quarter valued at approximately $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-3β), 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.