Short Interest in Actuate Therapeutics, Inc. (NASDAQ:ACTU) Declines By 40.4%

Actuate Therapeutics, Inc. (NASDAQ:ACTU) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 450,180 shares, a drop of 40.4% from the July 15th total of 754,754 shares. Based on an average daily trading volume, of 155,092 shares, the short-interest ratio is currently 2.9 days. Approximately 4.5% of the company’s stock are sold short.

Analyst Ratings Changes

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

Institutional Trading of Actuate Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ACTU. ABS Direct Equity Fund LLC purchased a new position in Actuate Therapeutics during the 4th quarter worth $40,000. Deutsche Bank AG raised its stake in Actuate Therapeutics by 640.0% during the 4th quarter. Deutsche Bank AG now owns 9,309 shares of the company’s stock valued at $57,000 after acquiring an additional 8,051 shares during the last quarter. Barclays PLC lifted its position in Actuate Therapeutics by 68.6% during the 4th quarter. Barclays PLC now owns 14,946 shares of the company’s stock worth $91,000 after acquiring an additional 6,081 shares during the period. Bank of America Corp DE lifted its position in Actuate Therapeutics by 61,068.0% during the 2nd quarter. Bank of America Corp DE now owns 15,292 shares of the company’s stock worth $93,000 after acquiring an additional 15,267 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Actuate Therapeutics in the 4th quarter valued at approximately $102,000.

Actuate Therapeutics Stock Performance

Shares of ACTU stock opened at $1.01 on Monday. The stock’s 50-day moving average is $1.49 and its two-hundred day moving average is $2.47. Actuate Therapeutics has a 1 year low of $0.90 and a 1 year high of $9.22. The firm has a market cap of $24.17 million, a price-to-earnings ratio of -1.16 and a beta of 0.78.

Actuate Therapeutics (NASDAQ:ACTU) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. As a group, research analysts predict that Actuate Therapeutics will post -0.86 EPS for the current year.

Actuate Therapeutics Company Profile

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.