Actuate Therapeutics (NASDAQ:ACTU) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Actuate Therapeutics has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment.
• The company reported a quarterly loss of ($0.30) per share, which was below analysts' expectations of ($0.19) per share.
• Insider activity showed significant confidence, with directors purchasing a total of 142,856 shares, enhancing their stake by 57.14% each.

Actuate Therapeutics (NASDAQ:ACTU - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other brokerages have also recently weighed in on ACTU. B. Riley started coverage on Actuate Therapeutics in a research note on Tuesday, August 26th. They set a "buy" rating and a $20.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Actuate Therapeutics in a research report on Monday, August 18th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Actuate Therapeutics has a consensus rating of "Buy" and a consensus target price of $20.33.

Actuate Therapeutics Stock Performance

NASDAQ:ACTU traded up $0.45 on Friday, reaching $7.09. 74,863 shares of the stock traded hands, compared to its average volume of 70,423. The company's 50 day moving average is $7.47 and its 200-day moving average is $7.95. Actuate Therapeutics has a 1-year low of $5.47 and a 1-year high of $11.99.

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

Insider Activity at Actuate Therapeutics

In other news, Director Aaron G.L. Fletcher purchased 71,428 shares of the company's stock in a transaction that occurred 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 purchase, the director owned 196,428 shares in the company, valued at approximately $1,374,996. This represents a 57.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Equity Cof Lp Bios acquired 71,428 shares of the stock in a transaction dated 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 purchase, the director directly 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 disclosure for this purchase can be found here. Over the last three months, insiders bought 214,284 shares of company stock valued at $1,499,988. Insiders own 69.34% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC purchased a new position in shares of Actuate Therapeutics in the 1st quarter valued at $70,000. Sfmg LLC acquired a new stake in Actuate Therapeutics during the 1st quarter worth about $74,000. Bank of America Corp DE lifted its holdings in shares of Actuate Therapeutics by 61,068.0% in the 2nd quarter. Bank of America Corp DE now owns 15,292 shares of the company's stock valued at $93,000 after buying an additional 15,267 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Actuate Therapeutics in the 2nd quarter valued at about $105,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake 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 buying an additional 15,393 shares in 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.