Actuate Therapeutics (NASDAQ:ACTU) Earns "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright has reinstated a Buy rating on Actuate Therapeutics with a target price of $20.00, indicating a potential upside of 182.09% from its previous close.
• Actuate Therapeutics' stock has recently seen a trading increase of 6.8%, opening at $7.09, with a 52-week range between $5.47 and $11.99.
• Insiders have purchased a significant amount of shares, with total insider buys amounting to 214,284 shares valued at approximately $1.5 million over the last 90 days.

Actuate Therapeutics (NASDAQ:ACTU - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 182.09% from the company's previous close.

Other analysts have also issued research reports about the company. Wall Street Zen raised Actuate Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. B. Riley initiated coverage on shares of Actuate Therapeutics in a research note on Tuesday, August 26th. They issued a "buy" rating and a $20.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Actuate Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $20.33.

Actuate Therapeutics Trading Up 6.8%

NASDAQ ACTU opened at $7.09 on Tuesday. The stock has a 50-day simple moving average of $7.49 and a two-hundred day simple moving average of $7.95. Actuate Therapeutics has a fifty-two week low of $5.47 and a fifty-two week high of $11.99.

Actuate Therapeutics (NASDAQ:ACTU - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.11).

Insider Activity

In other Actuate Therapeutics news, Director Equity Cof Lp Bios bought 71,428 shares of the firm's stock in a transaction on Friday, June 27th. The stock was bought at an average cost of $7.00 per share, with a total value of $499,996.00. Following the completion of the transaction, the director directly owned 196,428 shares of the company's stock, valued at approximately $1,374,996. The trade was a 57.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron G.L. Fletcher bought 71,428 shares of the firm's stock in a transaction on Friday, June 27th. The stock was acquired at an average cost of $7.00 per share, with a total value of $499,996.00. Following the completion of the transaction, the director directly owned 196,428 shares of the company's stock, valued at approximately $1,374,996. This represents a 57.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 214,284 shares of company stock worth $1,499,988 over the last 90 days. 69.34% of the stock is owned by company insiders.

Institutional Trading of Actuate Therapeutics

A number of hedge funds have recently bought and sold shares of ACTU. Voss Capital LP raised its stake in shares of Actuate Therapeutics by 101.0% in the 2nd quarter. Voss Capital LP now owns 286,140 shares of the company's stock valued at $1,748,000 after buying an additional 143,759 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Actuate Therapeutics by 252.5% in the 2nd quarter. Geode Capital Management LLC now owns 118,050 shares of the company's stock valued at $721,000 after purchasing an additional 84,561 shares during the last quarter. BIOS Capital Management LP raised its position in shares of Actuate Therapeutics by 0.7% in the 2nd quarter. BIOS Capital Management LP now owns 9,965,079 shares of the company's stock valued at $60,887,000 after acquiring an additional 71,428 shares during the period. Gleason Group Inc. acquired a new stake in Actuate Therapeutics during the 2nd quarter worth approximately $116,000. Finally, New York State Common Retirement Fund acquired a new stake in Actuate Therapeutics during the 2nd quarter worth approximately $105,000.

About Actuate Therapeutics

Actuate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for the treatment of cancers. The company's lead product candidate is Elraglusib Injection, a novel glycogen synthase kinase-3 inhibitor to treat metastatic pancreatic ductal adenocarcinoma. It also develops Elraglusib for the treatment of Ewing sarcoma, metastatic melanoma, and colorectal cancer.

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