Actuate Therapeutics (NASDAQ:ACTU) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Actuate Therapeutics (NASDAQ:ACTU) released its quarterly earnings data on Thursday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01), Zacks reports.

Actuate Therapeutics Stock Performance

NASDAQ ACTU traded down $0.07 during mid-day trading on Thursday, reaching $2.90. 35,436 shares of the stock were exchanged, compared to its average volume of 114,396. The business’s 50 day moving average is $2.58 and its 200-day moving average is $4.72. Actuate Therapeutics has a 1 year low of $1.58 and a 1 year high of $11.99. The company has a market capitalization of $68.76 million, a P/E ratio of -2.76 and a beta of 0.92.

Institutional Trading of Actuate Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC purchased a new position in Actuate Therapeutics during the fourth quarter worth approximately $190,000. Royal Bank of Canada boosted its position in Actuate Therapeutics by 172.2% during the fourth quarter. Royal Bank of Canada now owns 35,263 shares of the company’s stock worth $215,000 after purchasing an additional 22,309 shares in the last quarter. Barclays PLC boosted its position in Actuate Therapeutics by 68.6% during the fourth quarter. Barclays PLC now owns 14,946 shares of the company’s stock worth $91,000 after purchasing an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Actuate Therapeutics by 61.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,841 shares of the company’s stock worth $146,000 after purchasing an additional 9,076 shares in the last quarter. Finally, State Street Corp boosted its position in Actuate Therapeutics by 12.8% during the fourth quarter. State Street Corp now owns 56,290 shares of the company’s stock worth $344,000 after purchasing an additional 6,395 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on ACTU. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Actuate Therapeutics in a report on Wednesday, April 22nd. Wall Street Zen upgraded Actuate Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Actuate Therapeutics currently has a consensus rating of “Hold” and an average price target of $17.50.

About Actuate Therapeutics

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.