Key Points
- CEO Daniel Schmitt bought 140,844 Actuate Therapeutics shares at an average price of $0.35, investing approximately $49,295 and increasing his ownership by 46.68% to 442,560 shares.
- ACTU shares opened at $0.37 after falling 3.2%, trading near their 52-week low of $0.35 versus a high of $7.90. The company reported a quarterly loss of $0.20 per share, slightly better than analysts’ $0.21 estimate.
- Analyst sentiment is mixed, with two Buy ratings and one Sell rating, producing an overall “Hold” consensus and a $10.50 average price target. Actuate is developing elraglusib, an investigational cancer therapy targeting GSK-3β.
Actuate Therapeutics, Inc. (NASDAQ:ACTU - Get Free Report) CEO Daniel Schmitt acquired 140,844 shares of the firm's stock in a transaction on Wednesday, October 28th. The shares were bought at an average cost of $0.35 per share, with a total value of $49,295.40. Following the completion of the acquisition, the chief executive officer owned 442,560 shares in the company, valued at $154,896. This represents a 46.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
Actuate Therapeutics Trading Down 3.2%
Shares of ACTU opened at $0.37 on Friday. Actuate Therapeutics, Inc. has a 52 week low of $0.35 and a 52 week high of $7.90. The stock has a 50 day moving average of $0.92 and a 200-day moving average of $2.21.
Actuate Therapeutics (NASDAQ:ACTU - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. Analysts expect that Actuate Therapeutics, Inc. will post -0.73 earnings per share for the current fiscal year.
Analyst Ratings Changes
ACTU has been the subject of several research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Actuate Therapeutics in a research report on Monday, September 21st. HC Wainwright restated a "buy" rating on shares of Actuate Therapeutics in a report on Tuesday, August 18th. Finally, Rodman & Renshaw started coverage on Actuate Therapeutics in a report on Thursday, July 30th. They set a "buy" rating and a $6.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $10.50.
View Our Latest Stock Analysis on ACTU
Hedge Funds Weigh In On Actuate Therapeutics
Institutional investors have recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Actuate Therapeutics during the second quarter worth approximately $157,000. Palogic Value Management L.P. acquired a new stake in Actuate Therapeutics during the 2nd quarter valued at $153,000. BlackRock Inc. bought a new position in Actuate Therapeutics in the 2nd quarter valued at $138,000. ABS Direct Equity Fund LLC raised its position in Actuate Therapeutics by 46.4% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 73,186 shares of the company's stock valued at $112,000 after purchasing an additional 23,186 shares during the last quarter. Finally, ABS Investment Management LLC acquired a new position in Actuate Therapeutics in the second quarter worth $111,975.
About Actuate Therapeutics
(
Get Free Report)
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.
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