Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Drops By 6.5%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 443,700 shares, a decrease of 6.5% from the October 31st total of 474,500 shares. Based on an average daily trading volume, of 74,700 shares, the days-to-cover ratio is presently 5.9 days. Currently, 3.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC lifted its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,075 shares of the company’s stock after purchasing an additional 16,975 shares during the period. Prospect Financial Services LLC owned about 1.86% of Acurx Pharmaceuticals worth $561,000 as of its most recent SEC filing. 11.53% of the stock is owned by institutional investors and hedge funds.

Acurx Pharmaceuticals Trading Down 10.4 %

NASDAQ:ACXP opened at $1.12 on Tuesday. The firm’s fifty day simple moving average is $1.82 and its 200 day simple moving average is $2.09. Acurx Pharmaceuticals has a twelve month low of $1.00 and a twelve month high of $5.28. The firm has a market capitalization of $18.92 million, a price-to-earnings ratio of -1.07 and a beta of -1.73.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings data 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 last year, the firm posted ($0.24) EPS. On average, analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Acurx Pharmaceuticals in a report on Thursday, November 14th.

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.