Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Sees Significant Decrease in Short Interest

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 313,100 shares, a decline of 52.2% from the January 15th total of 655,000 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 267,500 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Acurx Pharmaceuticals in a research note on Friday, January 10th.

Insider Transactions at Acurx Pharmaceuticals

In related news, CEO David P. Luci acquired 49,261 shares of Acurx Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were purchased at an average cost of $1.01 per share, with a total value of $49,753.61. Following the completion of the purchase, the chief executive officer now owns 1,097,458 shares of the company’s stock, valued at $1,108,432.58. This represents a 4.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC lifted its holdings in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 329,076 shares of the company’s stock after acquiring an additional 34,001 shares during the quarter. Prospect Financial Services LLC owned approximately 1.93% of Acurx Pharmaceuticals worth $268,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Up 1.7 %

Shares of ACXP opened at $0.76 on Friday. The stock has a market capitalization of $12.89 million, a P/E ratio of -0.69 and a beta of -1.72. Acurx Pharmaceuticals has a twelve month low of $0.68 and a twelve month high of $3.35. The firm has a fifty day simple moving average of $0.82 and a two-hundred day simple moving average of $1.52.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its earnings results on Tuesday, November 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter in the previous year, the business earned ($0.24) EPS. Sell-side analysts expect that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

Acurx Pharmaceuticals Company Profile

Acurx Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops antibiotics to treat bacterial infections. The company's lead antibiotic candidate is ibezapolstat, a novel mechanism of action that targets the polymerase IIIC enzyme that is in Phase 2b clinical trial to treat patients with clostridium difficile infections.