Actuate Therapeutics (NASDAQ:ACTU) Stock: Insider Daniel Schmitt Buys 140,844 Shares

Actuate Therapeutics, Inc. (NASDAQ:ACTU) CEO Daniel Schmitt purchased 140,844 shares of the stock in a transaction that occurred on Wednesday, October 28th. The stock was purchased at an average cost of $0.35 per share, with a total value of $49,295.40. Following the purchase, the chief executive officer owned 442,560 shares in the company, valued at $154,896. This represents a 46.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Actuate Therapeutics Stock Down 9.7%

ACTU stock opened at $0.34 on Friday. The firm has a 50 day moving average of $0.90 and a two-hundred day moving average of $2.18. Actuate Therapeutics, Inc. has a 12 month low of $0.33 and a 12 month high of $7.90. The company has a market capitalization of $8.05 million, a price-to-earnings ratio of -0.39 and a beta of 1.20.

Actuate Therapeutics (NASDAQ:ACTU) last posted its earnings results on Friday, August 14th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. On average, research analysts expect that Actuate Therapeutics, Inc. will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Actuate Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. ABS Direct Equity Fund LLC raised its position in Actuate Therapeutics by 46.4% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 73,186 shares of the company’s stock worth $112,000 after purchasing an additional 23,186 shares during the last quarter. HighTower Advisors LLC bought a new position in Actuate Therapeutics in the second quarter valued at about $56,000. Susquehanna International Group LLP acquired a new stake in Actuate Therapeutics in the second quarter worth about $43,000. Palogic Value Management L.P. acquired a new position in Actuate Therapeutics during the 2nd quarter valued at about $153,000. Finally, ABS Investment Management LLC acquired a new stake in shares of Actuate Therapeutics during the 2nd quarter worth approximately $111,975.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Rodman & Renshaw assumed coverage on Actuate Therapeutics in a report on Thursday, July 30th. They issued a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Actuate Therapeutics in a research report on Monday, September 21st. Finally, HC Wainwright restated a “buy” rating on shares of Actuate Therapeutics in a research note on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.50.

About Actuate Therapeutics

Actuate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company’s lead product candidate is elraglusib, an investigational small-molecule inhibitor of glycogen synthase kinase-3 beta (GSK-3β), an enzyme involved in tumor growth, inflammation and immune regulation.

Actuate is evaluating elraglusib in clinical studies involving hematologic malignancies and solid tumors, including acute myeloid leukemia, pancreatic cancer and other difficult-to-treat cancers.