Wall Street Zen Downgrades Actuate Therapeutics (NASDAQ:ACTU) to Sell

Actuate Therapeutics (NASDAQ:ACTU) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other research firms have also recently weighed in on ACTU. Weiss Ratings restated a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Actuate Therapeutics in a research note on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Actuate Therapeutics Trading Down 10.6%

NASDAQ ACTU opened at $2.86 on Friday. The firm has a market capitalization of $66.47 million, a price-to-earnings ratio of -3.29 and a beta of 0.10. The firm’s 50 day simple moving average is $4.88 and its 200 day simple moving average is $6.32. Actuate Therapeutics has a 1 year low of $2.73 and a 1 year high of $11.99.

Insider Transactions at Actuate Therapeutics

In related news, Director Todd S. Thomson sold 280,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $5.80, for a total value of $1,624,000.00. Following the completion of the transaction, the director owned 904,795 shares of the company’s stock, valued at $5,247,811. This represents a 23.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 69.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Actuate Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ABS Direct Equity Fund LLC acquired a new position in shares of Actuate Therapeutics during the fourth quarter worth $40,000. Deutsche Bank AG boosted its holdings 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 acquiring an additional 8,051 shares in the last quarter. Sfmg LLC grew 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 acquiring an additional 3,550 shares during the last quarter. Barclays PLC increased its holdings in Actuate Therapeutics by 68.6% in the 4th 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. Finally, Bank of America Corp DE increased its holdings in Actuate Therapeutics by 61,068.0% in the 2nd 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 in the last quarter.

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.