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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 213,400 shares, a decline of 31.8% from the January 31st total of 313,100 shares. Based on an average daily volume of 363,600 shares, the short-interest ratio is currently 0.6 days. Approximately 1.3% of the company’s shares are short sold.

Insider Buying and Selling

In other news, CEO David P. Luci acquired 49,261 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was purchased at an average cost of $1.01 per share, for a total transaction 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 $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 SEC, which is available at this hyperlink. 29.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Geode Capital Management LLC increased its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,500 shares of the company’s stock after acquiring an additional 16,485 shares during the quarter. Geode Capital Management LLC owned about 0.90% of Acurx Pharmaceuticals worth $278,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Down 5.5 %

NASDAQ:ACXP opened at $0.67 on Tuesday. Acurx Pharmaceuticals has a 12-month low of $0.67 and a 12-month high of $3.33. The stock’s fifty day simple moving average is $0.79 and its 200-day simple moving average is $1.40. The firm has a market capitalization of $11.42 million, a P/E ratio of -0.61 and a beta of -1.72.

Wall Street Analyst Weigh In

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