Actuate Therapeutics (NASDAQ:ACTU) Trading Down 7.5% – Time to Sell?

Actuate Therapeutics, Inc. (NASDAQ:ACTU) traded down 7.5% during trading on Thursday . The stock traded as low as $1.16 and last traded at $1.23. Approximately 663,710 shares were traded during mid-day trading, an increase of 242% from the average session volume of 194,247 shares. The stock had previously closed at $1.33.

Wall Street Analyst Weigh In

ACTU has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating on shares of Actuate Therapeutics in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Actuate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.50.

Actuate Therapeutics Trading Down 7.5%

The company’s 50 day moving average price is $2.16 and its two-hundred day moving average price is $3.34. The stock has a market cap of $29.43 million, a P/E ratio of -1.27 and a beta of 0.67.

Actuate Therapeutics (NASDAQ:ACTU) last announced its earnings results on Thursday, May 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). On average, sell-side analysts anticipate that Actuate Therapeutics, Inc. will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On Actuate Therapeutics

A number of hedge funds have recently modified their holdings of ACTU. Voss Capital LP increased its stake in shares of 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 purchasing an additional 403,722 shares in the last quarter. Vanguard Group Inc. lifted its position in Actuate Therapeutics by 19.5% during the third quarter. Vanguard Group Inc. now owns 316,010 shares of the company’s stock valued at $2,114,000 after purchasing an additional 51,546 shares in the last quarter. Geode Capital Management LLC grew its holdings in Actuate Therapeutics by 42.9% during the fourth quarter. Geode Capital Management LLC now owns 207,744 shares of the company’s stock valued at $1,271,000 after purchasing an additional 62,332 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new stake in Actuate Therapeutics during the fourth quarter valued at about $579,000. Finally, State Street Corp increased its position in Actuate Therapeutics by 12.8% in the fourth quarter. State Street Corp now owns 56,290 shares of the company’s stock worth $344,000 after buying an additional 6,395 shares in the last quarter.

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.