Short Interest in Actuate Therapeutics, Inc. (NASDAQ:ACTU) Grows By 40.1%

Key Points

• Short interest jumped 40.1% to 914,989 shares as of April 15, equal to about 12.6% of the stock and a short-interest ratio of 5.0 days.
• Analysts are mixed: the consensus rating is Hold with an average target of $17.50, while individual opinions range from sell to buy (HC Wainwright set a $15 target).
• Actuate is a small, clinical-stage oncology company (market cap ~$67.6M) developing the CDK9 inhibitor atuveciclib in Phase 1 trials and reported a recent quarterly EPS of ($0.18), beating estimates.

Actuate Therapeutics, Inc. (NASDAQ:ACTU - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totaling 914,989 shares, an increase of 40.1% from the March 31st total of 653,203 shares. Based on an average daily trading volume, of 184,099 shares, the short-interest ratio is currently 5.0 days. Approximately 12.6% of the company's stock are sold short.

Actuate Therapeutics Stock Performance

ACTU stock opened at $2.85 on Tuesday. Actuate Therapeutics has a one year low of $1.58 and a one year high of $11.99. The stock has a market capitalization of $67.57 million, a PE ratio of -2.71 and a beta of 0.85. The company has a fifty day moving average of $2.78 and a 200-day moving average of $5.04.

Actuate Therapeutics (NASDAQ:ACTU - Get Free Report) last released its earnings results on Thursday, March 26th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.06. Equities analysts forecast that Actuate Therapeutics will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of Actuate Therapeutics

Several hedge funds have recently made changes to their positions in ACTU. Voss Capital LP lifted its stake in shares of Actuate Therapeutics by 213.2% in the 3rd quarter. Voss Capital LP now owns 896,278 shares of the company's stock worth $5,996,000 after acquiring an additional 610,138 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Actuate Therapeutics in the 4th quarter valued at about $579,000. BIOS Capital Management LP increased its holdings in shares of Actuate Therapeutics by 0.9% in the 3rd quarter. BIOS Capital Management LP now owns 10,049,996 shares of the company's stock valued at $67,234,000 after purchasing an additional 84,917 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Actuate Therapeutics by 19.5% in the 3rd quarter. Vanguard Group Inc. now owns 316,010 shares of the company's stock valued at $2,114,000 after purchasing an additional 51,546 shares in the last quarter.

Analysts Set New Price Targets

ACTU has been the subject of several research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Actuate Therapeutics in a report on Friday, March 27th. Wall Street Zen upgraded shares of Actuate Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Finally, HC Wainwright reiterated a "buy" rating and set a $15.00 price target on shares of Actuate Therapeutics in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Actuate Therapeutics has a consensus rating of "Hold" and an average target price of $17.50.

Actuate Therapeutics Company Profile

Actuate Therapeutics NASDAQ: ACTU is a clinical-stage oncology company focused on the discovery and development of targeted therapies designed to address key drivers of tumor growth and survival. Headquartered in South San Francisco, California, the company applies a precision medicine approach to identify novel molecular targets and develop small-molecule agents that have the potential to improve outcomes for patients with difficult-to-treat cancers.

The company's lead asset, atuveciclib, is a selective, oral CDK9 inhibitor being evaluated in a Phase 1 clinical trial for patients with acute myeloid leukemia and advanced solid tumors.

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