Wall Street Zen Downgrades Actuate Therapeutics (NASDAQ:ACTU) to Sell

Key Points

• Actuate Therapeutics has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, reflecting a significant change in analyst sentiment.
• Despite the downgrade, HC Wainwright has maintained a "buy" rating with a price target of $20.00, indicating mixed analyst perspectives on the stock.
• Insider trading activity is noteworthy, with directors acquiring shares at an average price of $7.00, boosting their ownership by 57.14%, demonstrating confidence in the company's future.

Actuate Therapeutics (NASDAQ:ACTU - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Separately, HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Actuate Therapeutics in a report on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $20.33.

Actuate Therapeutics Price Performance

ACTU traded up $0.17 during midday trading on Friday, hitting $8.22. 41,390 shares of the company's stock traded hands, compared to its average volume of 57,496. The stock's fifty day simple moving average is $7.08 and its 200-day simple moving average is $7.91. Actuate Therapeutics has a one year low of $5.47 and a one year high of $11.99.

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

Insiders Place Their Bets

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 shares were purchased 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 directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aaron G.L. Fletcher bought 71,428 shares of Actuate Therapeutics 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 purchase, the director directly owned 196,428 shares in the company, valued at $1,374,996. This represents a 57.14% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 214,284 shares of company stock worth $1,499,988 over the last 90 days. Corporate insiders own 69.34% of the company's stock.

Institutional Investors Weigh In On Actuate Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ACTU. BIOS Capital Management LP acquired a new stake in shares of Actuate Therapeutics in the 4th quarter valued at $78,753,000. Voss Capital LP boosted its stake in shares of Actuate Therapeutics by 101.0% in the 2nd quarter. Voss Capital LP now owns 286,140 shares of the company's stock valued at $1,748,000 after purchasing an additional 143,759 shares in the last quarter. Geode Capital Management LLC boosted its stake 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. Gleason Group Inc. acquired a new stake in shares of Actuate Therapeutics in the 2nd quarter valued at $116,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Actuate Therapeutics in the 2nd quarter valued at $105,000.

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.