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 equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Friday.

Separately, HC Wainwright reiterated a "buy" rating and set a $20.00 price objective on shares of Actuate Therapeutics in a report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $20.50.

Actuate Therapeutics Trading Up 9.1%

Shares of ACTU stock opened at $8.36 on Friday. Actuate Therapeutics has a fifty-two week low of $5.47 and a fifty-two week high of $11.99. The stock has a 50 day simple moving average of $7.05 and a two-hundred day simple moving average of $7.94.

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

Insider Transactions at Actuate Therapeutics

In other news, Director Aaron G.L. Fletcher acquired 71,428 shares of Actuate Therapeutics stock in a transaction that occurred 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 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Leslie W. Kreis bought 71,428 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average cost of $7.00 per share, for a total transaction of $499,996.00. Following the acquisition, the director directly owned 196,428 shares in the company, valued at $1,374,996. This trade represents a 57.14% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 214,284 shares of company stock valued at $1,499,988. 69.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BIOS Capital Management LP acquired a new stake in shares of Actuate Therapeutics during the 4th quarter worth approximately $78,753,000. Voss Capital LP lifted its stake in shares of Actuate Therapeutics by 101.0% in the second quarter. Voss Capital LP now owns 286,140 shares of the company's stock worth $1,748,000 after acquiring an additional 143,759 shares during the period. Geode Capital Management LLC raised its position in 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 buying an additional 84,561 shares during the last quarter. Gleason Group Inc. bought a new position in shares of Actuate Therapeutics during the 2nd quarter worth $116,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Actuate Therapeutics in the 2nd quarter valued at about $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.

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