Actuate Therapeutics (NASDAQ:ACTU) Releases Earnings Results, Misses Expectations By $0.11 EPS

Key Points

• Actuate Therapeutics reported an earnings per share (EPS) of ($0.30), missing analysts' expectations by ($0.11).
• The stock price of Actuate Therapeutics fell 3.6% to $8.22 following the earnings announcement.
• Insiders acquired 214,284 shares of the company's stock in the last quarter, reflecting a strong belief in the company’s future potential.

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

Actuate Therapeutics Stock Down 3.6%

NASDAQ ACTU traded down $0.31 during trading hours on Thursday, hitting $8.22. 26,478 shares of the company's stock traded hands, compared to its average volume of 68,743. Actuate Therapeutics has a 52-week low of $5.47 and a 52-week high of $11.99. The firm's 50-day moving average is $7.13 and its 200-day moving average is $7.98.

Analyst Upgrades and Downgrades

ACTU has been the subject of a number of research reports. Craig Hallum initiated coverage on shares of Actuate Therapeutics in a research note on Tuesday, April 22nd. They set a "buy" rating and a $21.00 target price for the company. HC Wainwright boosted their target price on shares of Actuate Therapeutics to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd.

Insider Activity at Actuate Therapeutics

In other Actuate Therapeutics news, Director Aaron G.L. Fletcher acquired 71,428 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was bought at an average price of $7.00 per share, with a total value of $499,996.00. Following the purchase, the director owned 196,428 shares in the company, valued at approximately $1,374,996. The trade was a 57.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie W. Kreis acquired 71,428 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were acquired at an average cost of $7.00 per share, with a total value of $499,996.00. Following the purchase, the director owned 196,428 shares in the company, valued at $1,374,996. This represents a 57.14% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 214,284 shares of company stock valued at $1,499,988. Corporate insiders own 69.34% of the company's stock.

Institutional Trading of Actuate Therapeutics

Several hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new stake in shares of Actuate Therapeutics during the 2nd quarter valued at approximately $105,000. Northwestern Mutual Wealth Management Co. increased its stake in Actuate Therapeutics by 492.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 18,518 shares of the company's stock worth $113,000 after acquiring an additional 15,393 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Actuate Therapeutics by 98.7% in the first quarter. Goldman Sachs Group Inc. now owns 22,358 shares of the company's stock valued at $151,000 after purchasing an additional 11,105 shares during the period. Finally, Geode Capital Management LLC lifted 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.

Actuate Therapeutics Company Profile

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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