Short Interest in Actuate Therapeutics, Inc. (NASDAQ:ACTU) Grows By 21.1%

Actuate Therapeutics, Inc. (NASDAQ:ACTU) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 529,786 shares, a growth of 21.1% from the December 15th total of 437,439 shares. Currently, 7.4% of the shares of the stock are short sold. Based on an average trading volume of 78,326 shares, the short-interest ratio is presently 6.8 days. Based on an average trading volume of 78,326 shares, the short-interest ratio is presently 6.8 days. Currently, 7.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

ACTU has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Actuate Therapeutics in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Actuate Therapeutics in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Actuate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.33.

Insiders Place Their Bets

In other news, Director Todd S. Thomson sold 280,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $5.80, for a total transaction of $1,624,000.00. Following the completion of the sale, the director directly owned 904,795 shares in the company, valued at approximately $5,247,811. This represents a 23.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 69.34% of the stock is owned by corporate insiders.

Institutional Trading of Actuate Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sfmg LLC raised its position in Actuate Therapeutics by 32.3% during the 2nd quarter. Sfmg LLC now owns 14,550 shares of the company’s stock worth $89,000 after purchasing an additional 3,550 shares during the last quarter. Bank of America Corp DE increased its stake in shares of 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 valued at $93,000 after buying an additional 15,267 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of Actuate Therapeutics in the second quarter valued at about $105,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Actuate Therapeutics by 492.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 18,518 shares of the company’s stock worth $113,000 after acquiring an additional 15,393 shares during the period. Finally, Gleason Group Inc. bought a new stake in Actuate Therapeutics in the second quarter valued at approximately $116,000.

Actuate Therapeutics Trading Up 7.0%

Shares of ACTU stock opened at $5.69 on Tuesday. The firm has a market capitalization of $132.24 million, a price-to-earnings ratio of -6.54 and a beta of -0.15. The business’s 50-day moving average price is $6.51 and its 200-day moving average price is $6.97. Actuate Therapeutics has a 12 month low of $5.08 and a 12 month high of $11.99.

Actuate Therapeutics (NASDAQ:ACTU) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02.

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.