Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Decreases By 8.1%

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

Insider Activity

In other news, CEO David P. Luci bought 49,261 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was bought at an average price of $1.01 per share, with a total value of $49,753.61. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 29.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC raised its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 329,076 shares of the company’s stock after acquiring an additional 34,001 shares during the period. Prospect Financial Services LLC owned about 1.93% of Acurx Pharmaceuticals worth $268,000 at the end of the most recent quarter. 11.53% of the stock is owned by hedge funds and other institutional investors.

Acurx Pharmaceuticals Stock Performance

ACXP opened at $0.73 on Monday. Acurx Pharmaceuticals has a fifty-two week low of $0.68 and a fifty-two week high of $3.77. The company has a market capitalization of $12.44 million, a P/E ratio of -0.67 and a beta of -1.71. The stock has a fifty day moving average of $0.87 and a 200-day moving average of $1.60.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. During the same period in the prior year, the firm posted ($0.24) earnings per share. On average, equities research analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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