Actuate Therapeutics (NASDAQ:ACTU) Earns Buy Rating from Analysts at Rodman & Renshaw

Rodman & Renshaw started coverage on shares of Actuate Therapeutics (NASDAQ:ACTU) in a report issued on Thursday,Benzinga reports. The firm set a “buy” rating and a $6.00 price target on the stock. Rodman & Renshaw’s price target would suggest a potential upside of 455.56% from the company’s current price.

Several other research firms also recently commented on ACTU. Wall Street Zen downgraded shares of Actuate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Wednesday, June 24th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Actuate Therapeutics in a research report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.67.

Actuate Therapeutics Price Performance

Actuate Therapeutics stock opened at $1.08 on Thursday. Actuate Therapeutics has a 1-year low of $1.03 and a 1-year high of $9.22. The business has a fifty day moving average price of $1.73 and a 200-day moving average price of $2.85. The stock has a market capitalization of $25.84 million, a price-to-earnings ratio of -1.11 and a beta of 0.67.

Actuate Therapeutics (NASDAQ:ACTU) last announced its earnings results on Thursday, May 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). On average, equities research analysts anticipate that Actuate Therapeutics will post -0.86 earnings per share for the current fiscal year.

Institutional Trading of Actuate Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Voss Capital LP lifted its position in Actuate Therapeutics by 45.0% during the fourth quarter. Voss Capital LP now owns 1,300,000 shares of the company’s stock valued at $7,956,000 after purchasing an additional 403,722 shares during the period. State Street Corp raised its stake in shares of Actuate Therapeutics by 12.8% during the 4th quarter. State Street Corp now owns 56,290 shares of the company’s stock valued at $344,000 after buying an additional 6,395 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Actuate Therapeutics by 172.2% during the 4th quarter. Royal Bank of Canada now owns 35,263 shares of the company’s stock valued at $215,000 after buying an additional 22,309 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Actuate Therapeutics in the 4th quarter valued at about $190,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Actuate Therapeutics by 98.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,358 shares of the company’s stock valued at $151,000 after buying an additional 11,105 shares during the period.

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.