Actuate Therapeutics (NASDAQ:ACTU) Stock Price Down 0.9% - Here's Why

Key Points

• Actuate Therapeutics' stock (NASDAQ:ACTU) fell 0.9% to $6.86, with trading volume down 20% from average levels.
• Despite a recent downgrade to "sell" by Wall Street Zen, HC Wainwright and B. Riley both maintained "buy" ratings with a price target of $20.00.
• Insiders recently purchased a total of 214,284 shares, indicating strong confidence in the company's performance, as they now own 69.34% of the stock.

Shares of Actuate Therapeutics, Inc. (NASDAQ:ACTU - Get Free Report) dropped 0.9% on Thursday . The stock traded as low as $6.73 and last traded at $6.86. Approximately 63,160 shares traded hands during trading, a decline of 20% from the average daily volume of 78,726 shares. The stock had previously closed at $6.92.

Analyst Ratings Changes

A number of equities analysts have commented on ACTU shares. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Actuate Therapeutics in a research note on Monday, August 18th. B. Riley initiated coverage on shares of Actuate Therapeutics in a research report on Tuesday, August 26th. They set a "buy" rating and a $20.00 price target on the stock. Finally, Wall Street Zen upgraded Actuate Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $20.33.

Actuate Therapeutics Stock Up 6.8%

The firm's fifty day moving average price is $7.49 and its 200 day moving average price is $7.95.

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

Insider Activity

In other Actuate Therapeutics news, Director Leslie W. Kreis purchased 71,428 shares of the firm's stock in a transaction 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 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Equity Cof Lp Bios purchased 71,428 shares of the company's stock in a transaction on Friday, June 27th. The stock was acquired 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 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. Over the last quarter, insiders acquired 214,284 shares of company stock valued at $1,499,988. 69.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACTU. Chicago Partners Investment Group LLC acquired a new position in Actuate Therapeutics during the 1st quarter worth $70,000. Sfmg LLC purchased a new stake in shares of Actuate Therapeutics during the first quarter worth approximately $74,000. Bank of America Corp DE raised its holdings in Actuate Therapeutics by 61,068.0% in the second quarter. Bank of America Corp DE now owns 15,292 shares of the company's stock valued at $93,000 after acquiring an additional 15,267 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Actuate Therapeutics in the second quarter worth approximately $105,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings 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 worth $113,000 after acquiring an additional 15,393 shares in the last quarter.

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.