Actuate Therapeutics (NASDAQ:ACTU) Coverage Initiated at Rodman & Renshaw

Investment analysts at Rodman & Renshaw assumed coverage on shares of Actuate Therapeutics (NASDAQ:ACTU) in a research note issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. Rodman & Renshaw’s price target suggests a potential upside of 455.56% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. HC Wainwright reissued a “buy” rating on shares of Actuate Therapeutics in a research note on Wednesday, June 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Actuate Therapeutics in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut Actuate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

Actuate Therapeutics Price Performance

NASDAQ:ACTU opened at $1.08 on Thursday. The firm has a market cap of $25.84 million, a price-to-earnings ratio of -1.11 and a beta of 0.67. The company has a 50 day moving average price of $1.73 and a 200-day moving average price of $2.85. Actuate Therapeutics has a 1-year low of $1.03 and a 1-year high of $9.22.

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

Hedge Funds Weigh In On Actuate Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Actuate Therapeutics by 98.7% in the first quarter. Goldman Sachs Group Inc. now owns 22,358 shares of the company’s stock valued at $151,000 after purchasing an additional 11,105 shares during the period. Geode Capital Management LLC raised its position in shares of Actuate Therapeutics by 252.5% during the 2nd quarter. Geode Capital Management LLC now owns 118,050 shares of the company’s stock worth $721,000 after purchasing an additional 84,561 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Actuate Therapeutics by 492.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 18,518 shares of the company’s stock worth $113,000 after purchasing an additional 15,393 shares during the last quarter. New York State Common Retirement Fund purchased a new position in Actuate Therapeutics in the 2nd quarter valued at about $105,000. Finally, Bank of America Corp DE boosted 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 buying an additional 15,267 shares during 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.