Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Update

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 655,000 shares, a growth of 41.9% from the December 31st total of 461,600 shares. Based on an average daily trading volume, of 257,000 shares, the days-to-cover ratio is currently 2.5 days. Currently, 4.0% of the company’s shares are short sold.

Insider Activity at Acurx Pharmaceuticals

In related news, CEO David P. Luci purchased 49,261 shares of Acurx Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were bought at an average price 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 of the company’s stock, valued at $1,108,432.58. This represents a 4.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC boosted its stake in shares of 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 firm owned 329,076 shares of the company’s stock after purchasing 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 reporting period. Institutional investors own 11.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Acurx Pharmaceuticals in a report on Friday, January 10th.

Acurx Pharmaceuticals Stock Performance

Shares of ACXP opened at $0.76 on Friday. The stock has a market cap of $12.93 million, a PE ratio of -0.70 and a beta of -1.71. Acurx Pharmaceuticals has a fifty-two week low of $0.68 and a fifty-two week high of $3.77. The firm’s 50-day simple moving average is $0.88 and its two-hundred day simple moving average is $1.63.

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

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.