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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 461,600 shares, a drop of 8.1% from the December 15th total of 502,100 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily volume of 210,200 shares, the short-interest ratio is presently 2.2 days.

Acurx Pharmaceuticals Stock Performance

NASDAQ ACXP opened at $0.88 on Friday. Acurx Pharmaceuticals has a 52-week low of $0.68 and a 52-week high of $4.42. The company has a market capitalization of $15.04 million, a P/E ratio of -0.81 and a beta of -1.71. The company has a fifty day moving average of $1.03 and a 200-day moving average of $1.71.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter in the prior year, the company earned ($0.24) EPS. As a group, analysts forecast that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling at Acurx Pharmaceuticals

In other news, CEO David P. Luci purchased 49,261 shares of the business’s stock in a transaction on Monday, January 6th. The stock was purchased at an average cost of $1.01 per share, with a total value of $49,753.61. Following the acquisition, the chief executive officer now directly owns 1,097,458 shares in the company, valued at approximately $1,108,432.58. This trade represents a 4.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 29.60% of the company’s stock.

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC boosted its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 295,075 shares of the company’s stock after purchasing an additional 16,975 shares during the period. Prospect Financial Services LLC owned approximately 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent reporting period. 11.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Acurx Pharmaceuticals in a report on Friday, January 10th.

About Acurx Pharmaceuticals

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.