Actuate Therapeutics, Inc. (NASDAQ:ACTU) Sees Significant Growth in Short Interest

Actuate Therapeutics, Inc. (NASDAQ:ACTU) was the recipient of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 695,971 shares, a growth of 54.6% from the July 30th total of 450,180 shares. Approximately 6.9% of the shares of the company are short sold. Based on an average daily volume of 193,080 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACTU. Wall Street Zen cut Actuate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Rodman & Renshaw began coverage on Actuate Therapeutics in a research report on Thursday, July 30th. They set a “buy” rating and a $6.00 price objective for the company. HC Wainwright reissued a “buy” rating on shares of Actuate Therapeutics in a research note on Tuesday, August 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Actuate Therapeutics in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Actuate Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Institutional Investors Weigh In On Actuate Therapeutics

Institutional investors have recently made changes to their positions in the business. Voss Capital LP grew its holdings in shares of Actuate Therapeutics by 45.0% in the fourth quarter. Voss Capital LP now owns 1,300,000 shares of the company’s stock worth $7,956,000 after acquiring an additional 403,722 shares during the period. Sfmg LLC lifted its holdings in Actuate Therapeutics by 17.6% in the fourth quarter. Sfmg LLC now owns 20,000 shares of the company’s stock valued at $122,000 after acquiring an additional 3,000 shares during the period. Bank of America Corp DE boosted its position in Actuate Therapeutics by 61,068.0% in 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. Barclays PLC grew its stake in shares of Actuate Therapeutics by 68.6% during the 4th quarter. Barclays PLC now owns 14,946 shares of the company’s stock valued at $91,000 after purchasing an additional 6,081 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Actuate Therapeutics by 640.0% during the 4th quarter. Deutsche Bank AG now owns 9,309 shares of the company’s stock valued at $57,000 after purchasing an additional 8,051 shares during the period.

Actuate Therapeutics Price Performance

Shares of NASDAQ:ACTU traded down $0.06 during midday trading on Tuesday, hitting $1.46. 16,968 shares of the company’s stock were exchanged, compared to its average volume of 201,355. The company has a market cap of $34.96 million, a PE ratio of -1.67 and a beta of 0.78. The stock has a 50 day moving average price of $1.35 and a 200-day moving average price of $2.21. Actuate Therapeutics has a 12 month low of $0.90 and a 12 month high of $9.22.

Actuate Therapeutics (NASDAQ:ACTU) last released its earnings results on Friday, August 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. On average, analysts anticipate that Actuate Therapeutics will post -0.75 EPS for the current fiscal year.

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.