Short Interest in Actuate Therapeutics, Inc. (NASDAQ:ACTU) Increases By 68.5%

Actuate Therapeutics, Inc. (NASDAQ:ACTU) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 1,172,690 shares, an increase of 68.5% from the August 15th total of 695,971 shares. Currently, 11.6% of the company’s stock are short sold. Based on an average daily volume of 612,145 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Investors Weigh In On Actuate Therapeutics

A number of institutional investors have recently made changes to their positions in ACTU. Voss Capital LP raised its holdings in Actuate Therapeutics by 45.0% in the 4th quarter. Voss Capital LP now owns 1,300,000 shares of the company’s stock worth $7,956,000 after acquiring an additional 403,722 shares during the last quarter. Sfmg LLC boosted its stake in Actuate Therapeutics by 17.6% during the 4th quarter. Sfmg LLC now owns 20,000 shares of the company’s stock valued at $122,000 after purchasing an additional 3,000 shares during the last quarter. Rock Creek Group LP purchased a new stake in Actuate Therapeutics during the 4th quarter valued at $133,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Actuate Therapeutics during the 4th quarter valued at $579,000. Finally, ABS Direct Equity Fund LLC increased its holdings in shares of Actuate Therapeutics by 46.4% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 73,186 shares of the company’s stock worth $112,000 after purchasing an additional 23,186 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed 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 research note on Tuesday, August 18th. Wall Street Zen cut shares of Actuate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Rodman & Renshaw assumed coverage on shares of Actuate Therapeutics in a research note on Thursday, July 30th. They set a “buy” rating and a $6.00 target price for the company. Two equities 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 stock presently has a consensus rating of “Hold” and an average price target of $10.50.

Actuate Therapeutics Trading Down 1.4%

NASDAQ ACTU opened at $0.98 on Friday. Actuate Therapeutics has a 12 month low of $0.90 and a 12 month high of $8.49. The stock’s fifty day moving average price is $1.26 and its 200-day moving average price is $1.94. The stock has a market cap of $23.56 million, a P/E ratio of -1.13 and a beta of 0.95.

Actuate Therapeutics (NASDAQ:ACTU) last announced its quarterly earnings results 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, analysts forecast that Actuate Therapeutics will post -0.73 earnings per share for the current fiscal year.

Actuate Therapeutics Company Profile

Actuate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company’s research is centered on glycogen synthase kinase-3 beta (GSK-3β), a signaling protein involved in tumor growth, inflammation and immune regulation.

Actuate’s lead investigational product is elraglusib, also known as 9-ING-41, a small-molecule inhibitor of GSK-3β. The therapy has been evaluated in clinical studies involving patients with hematologic malignancies and solid tumors, including pancreatic cancer, as the company investigates its potential to improve outcomes when used alone or in combination with other treatments.

The company is advancing elraglusib through clinical development and continues to study its potential applications in oncology and inflammatory or immune-related conditions.