Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Decreases By 5.5%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 474,500 shares, a decline of 5.5% from the October 15th total of 501,900 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average trading volume of 46,900 shares, the days-to-cover ratio is presently 10.1 days.

Acurx Pharmaceuticals Trading Down 1.8 %

NASDAQ:ACXP opened at $1.67 on Wednesday. The stock has a 50 day simple moving average of $1.94 and a 200 day simple moving average of $2.13. The stock has a market cap of $28.21 million, a P/E ratio of -1.53 and a beta of -1.73. Acurx Pharmaceuticals has a 1-year low of $1.52 and a 1-year high of $5.28.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its earnings results on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter last year, the business posted ($0.24) EPS. As a group, sell-side analysts forecast that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Geode Capital Management LLC raised its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,500 shares of the company’s stock after acquiring an additional 16,485 shares during the period. Geode Capital Management LLC owned about 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent quarter. Institutional investors own 11.53% of the company’s stock.

Analyst Ratings Changes

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

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.