Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Rises By 8.2%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 502,100 shares, an increase of 8.2% from the November 30th total of 463,900 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average trading volume of 124,000 shares, the days-to-cover ratio is presently 4.0 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC lifted its holdings 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 fund owned 295,075 shares of the company’s stock after acquiring an additional 16,975 shares during the period. Prospect Financial Services LLC owned 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent reporting period. 11.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Acurx Pharmaceuticals in a research note on Tuesday, December 10th.

Acurx Pharmaceuticals Trading Down 4.6 %

Shares of Acurx Pharmaceuticals stock opened at $0.81 on Wednesday. The company has a fifty day simple moving average of $1.33 and a 200-day simple moving average of $1.85. Acurx Pharmaceuticals has a 12-month low of $0.72 and a 12-month high of $5.28. The stock has a market cap of $13.75 million, a price-to-earnings ratio of -0.75 and a beta of -1.86.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.06. During the same quarter last year, the company posted ($0.24) earnings per share. On average, analysts forecast that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

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.