Actuate Therapeutics (NASDAQ:ACTU) Posts Earnings Results

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) issued its earnings results on Thursday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.11), Zacks reports.

Actuate Therapeutics Stock Performance

NASDAQ ACTU traded up $0.05 during trading on Tuesday, hitting $8.30. 832 shares of the stock traded hands, compared to its average volume of 67,940. The firm has a 50-day simple moving average of $7.11 and a 200-day simple moving average of $7.96. Actuate Therapeutics has a 12-month low of $5.47 and a 12-month high of $11.99.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Actuate Therapeutics in a report on Monday. Craig Hallum assumed coverage on Actuate Therapeutics in a report on Tuesday, April 22nd. They set a "buy" rating and a $21.00 price target for the company.

Insider Buying and Selling at Actuate Therapeutics

In related news, Director Leslie W. Kreis bought 71,428 shares of the company's stock in a transaction dated Friday, June 27th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $499,996.00. Following the acquisition, the director owned 196,428 shares in the company, valued at $1,374,996. This trade represents a 57.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Equity Cof Lp Bios bought 71,428 shares of the company's stock in a transaction dated 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 acquisition, the director owned 196,428 shares in the company, valued at approximately $1,374,996. This trade represents a 57.14% increase in their position. The disclosure for this purchase can be found here. Insiders bought 214,284 shares of company stock worth $1,499,988 in the last quarter. 69.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Actuate Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ACTU. Bank of America Corp DE raised 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 valued at $93,000 after purchasing an additional 15,267 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Actuate Therapeutics during the 2nd quarter valued at about $105,000. Northwestern Mutual Wealth Management Co. increased its position in Actuate Therapeutics by 492.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 18,518 shares of the company's stock valued at $113,000 after buying an additional 15,393 shares in the last quarter. Geode Capital Management LLC grew its stake in Actuate Therapeutics by 252.5% during 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. Finally, Goldman Sachs Group Inc. grew its stake in Actuate Therapeutics by 98.7% during the 1st 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 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.