Actuate Therapeutics, Inc. (NASDAQ:ACTU) Short Interest Down 40.4% in July

Actuate Therapeutics, Inc. (NASDAQ:ACTU) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 450,180 shares, a decline of 40.4% from the July 15th total of 754,754 shares. Based on an average daily trading volume, of 155,092 shares, the days-to-cover ratio is presently 2.9 days. Approximately 4.5% of the company’s shares are short sold.

Actuate Therapeutics Stock Up 1.9%

Shares of NASDAQ:ACTU traded up $0.02 during mid-day trading on Wednesday, reaching $1.07. 82,624 shares of the stock were exchanged, compared to its average volume of 173,260. The company has a market cap of $25.61 million, a P/E ratio of -1.23 and a beta of 0.78. The stock’s 50 day simple moving average is $1.46 and its 200-day simple moving average is $2.41. Actuate Therapeutics has a one year low of $0.90 and a one year high of $9.22.

Actuate Therapeutics (NASDAQ:ACTU) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Analysts anticipate that Actuate Therapeutics will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Actuate Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voss Capital LP grew its stake in 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 purchasing an additional 403,722 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Actuate Therapeutics in the 2nd quarter worth $157,000. Palogic Value Management L.P. bought a new position in shares of Actuate Therapeutics during the 2nd quarter worth $153,000. BlackRock Inc. bought a new position in shares of Actuate Therapeutics during the 2nd quarter worth $138,000. Finally, Geode Capital Management LLC increased its stake in shares of Actuate Therapeutics by 252.5% during the second quarter. Geode Capital Management LLC now owns 118,050 shares of the company’s stock valued at $721,000 after buying an additional 84,561 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Rodman & Renshaw initiated coverage on shares of Actuate Therapeutics in a research report on Thursday, July 30th. They set a “buy” rating and a $6.00 target price on the stock. Wall Street Zen cut shares of Actuate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Actuate Therapeutics in a research report on Wednesday, June 24th. Finally, HC Wainwright restated a “buy” rating on shares of Actuate Therapeutics in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

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.