Actuate Therapeutics (NASDAQ:ACTU) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Actuate Therapeutics (NASDAQ:ACTU) announced its earnings results on Friday. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01, FiscalAI reports.

Actuate Therapeutics Trading Up 3.6%

Actuate Therapeutics stock opened at $1.01 on Friday. Actuate Therapeutics has a 1-year low of $0.90 and a 1-year high of $9.22. The firm has a market capitalization of $24.17 million, a PE ratio of -1.16 and a beta of 0.78. The firm’s 50 day simple moving average is $1.49 and its 200 day simple moving average is $2.49.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Sfmg LLC increased its holdings in shares of Actuate Therapeutics by 17.6% in the fourth quarter. Sfmg LLC now owns 20,000 shares of the company’s stock worth $122,000 after purchasing an additional 3,000 shares during the period. Barclays PLC boosted its stake in Actuate Therapeutics by 68.6% during the fourth 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 period. State Street Corp boosted its stake in Actuate Therapeutics by 12.8% during the fourth quarter. State Street Corp now owns 56,290 shares of the company’s stock valued at $344,000 after buying an additional 6,395 shares during the period. ABS Direct Equity Fund LLC purchased a new position in Actuate Therapeutics during the fourth quarter worth about $40,000. Finally, Wells Fargo & Company MN grew its position in Actuate Therapeutics by 48.8% during the fourth quarter. Wells Fargo & Company MN now owns 20,146 shares of the company’s stock worth $123,000 after buying an additional 6,604 shares in the last quarter.

Analyst Ratings Changes

ACTU has been the subject of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Actuate Therapeutics in a research report on Wednesday, June 24th. HC Wainwright reiterated a “buy” rating on shares of Actuate Therapeutics in a research note on Wednesday, June 10th. Rodman & Renshaw initiated coverage on shares of Actuate Therapeutics in a research report on Thursday, July 30th. They set a “buy” rating and a $6.00 target price for the company. Finally, Wall Street Zen lowered shares of Actuate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.67.

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.