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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 313,100 shares, a decline of 52.2% from the January 15th total of 655,000 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average trading volume of 267,500 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

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

Acurx Pharmaceuticals Stock Down 2.0 %

Shares of Acurx Pharmaceuticals stock opened at $0.74 on Friday. Acurx Pharmaceuticals has a 12 month low of $0.68 and a 12 month high of $3.35. The business has a fifty day simple moving average of $0.82 and a 200 day simple moving average of $1.51. The stock has a market cap of $12.64 million, a PE ratio of -0.68 and a beta of -1.72.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its earnings results on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. During the same period last year, the firm earned ($0.24) earnings per share. Analysts expect that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

Insider Transactions at Acurx Pharmaceuticals

In related news, CEO David P. Luci acquired 49,261 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was acquired at an average cost of $1.01 per share, with a total value of $49,753.61. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 29.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC raised its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission. 11.53% of the stock is owned by institutional investors.

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.