Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) CEO Buys $49,753.61 in Stock

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) CEO David P. Luci acquired 49,261 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were bought at an average price of $1.01 per share, with a total value of $49,753.61. Following the completion of the transaction, the chief executive officer now directly owns 1,097,458 shares in the company, valued at approximately $1,108,432.58. The trade was a 4.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Acurx Pharmaceuticals Stock Down 6.9 %

Shares of NASDAQ:ACXP traded down $0.06 during trading on Wednesday, reaching $0.75. The stock had a trading volume of 1,695,648 shares, compared to its average volume of 877,882. The stock has a market cap of $12.69 million, a P/E ratio of -0.69 and a beta of -1.71. The business has a fifty day moving average price of $1.21 and a 200-day moving average price of $1.79. Acurx Pharmaceuticals, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $5.28.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly 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 period in the previous year, the business posted ($0.24) EPS. As a group, equities analysts forecast that Acurx Pharmaceuticals, Inc. will post -0.89 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC raised its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 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.

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.