Joseph C. Scodari Acquires 24,631 Shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Stock

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Director Joseph C. Scodari purchased 24,631 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were acquired at an average price of $1.01 per share, for a total transaction of $24,877.31. Following the acquisition, the director now owns 27,708 shares of the company’s stock, valued at $27,985.08. This trade represents a 800.49 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Acurx Pharmaceuticals Stock Performance

NASDAQ:ACXP opened at $0.75 on Friday. Acurx Pharmaceuticals, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $5.28. The company has a 50 day simple moving average of $1.17 and a two-hundred day simple moving average of $1.77. The company has a market capitalization of $12.69 million, a PE ratio of -0.69 and a beta of -1.71.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced 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 prior year, the company posted ($0.24) EPS. Research analysts predict that Acurx Pharmaceuticals, Inc. will post -0.89 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC boosted its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 295,075 shares of the company’s stock after purchasing an additional 16,975 shares during the quarter. Prospect Financial Services LLC owned about 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent quarter. 11.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Acurx Pharmaceuticals in a research report on Tuesday, December 10th.

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.