HC Wainwright Reaffirms Buy Rating for Actuate Therapeutics (NASDAQ:ACTU)

Key Points

• HC Wainwright has reaffirmed a "buy" rating for Actuate Therapeutics (NASDAQ:ACTU) with a price target of $20.00, indicating a potential upside of 146.31% from its current price.
• Actuate Therapeutics' stock opened at $8.12 and has shown a 52-week range between $5.47 and $11.99.
• Insider purchases have increased, with directors acquiring over 214,284 shares in recent months, signaling confidence in the company's future.

Actuate Therapeutics (NASDAQ:ACTU - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright's price target would suggest a potential upside of 146.31% from the stock's current price.

Separately, Craig Hallum began coverage on Actuate Therapeutics in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $21.00 price objective on the stock.

Actuate Therapeutics Stock Performance

NASDAQ:ACTU opened at $8.12 on Monday. The stock's fifty day moving average is $7.12 and its two-hundred day moving average is $7.96. Actuate Therapeutics has a 52 week low of $5.47 and a 52 week high of $11.99.

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

Insider Activity

In related news, Director Leslie W. Kreis acquired 71,428 shares of Actuate Therapeutics stock in a transaction dated Friday, June 27th. The shares were acquired at an average cost of $7.00 per share, for a total transaction 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. The trade was a 57.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron G.L. Fletcher purchased 71,428 shares of the business's stock in a transaction on Friday, June 27th. The stock was acquired at an average price of $7.00 per share, for a total transaction of $499,996.00. Following the completion of the purchase, the director owned 196,428 shares of the company's stock, valued at $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 three months, insiders have purchased 214,284 shares of company stock worth $1,499,988. Corporate insiders own 69.34% of the company's stock.

Hedge Funds Weigh In On Actuate Therapeutics

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Actuate Therapeutics by 61,068.0% during the second quarter. Bank of America Corp DE now owns 15,292 shares of the company's stock worth $93,000 after purchasing an additional 15,267 shares during the last quarter. Voss Capital LP grew its holdings in shares of Actuate Therapeutics by 101.0% during the second quarter. Voss Capital LP now owns 286,140 shares of the company's stock worth $1,748,000 after buying an additional 143,759 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of Actuate Therapeutics during the second quarter worth about $105,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 buying an additional 15,393 shares during the last quarter. Finally, BIOS Capital Management LP grew its holdings in shares of Actuate Therapeutics by 0.7% during the second quarter. BIOS Capital Management LP now owns 9,965,079 shares of the company's stock worth $60,887,000 after buying an additional 71,428 shares during 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.

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