Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Down 8.1% in December

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 461,600 shares, a drop of 8.1% from the December 15th total of 502,100 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 210,200 shares, the short-interest ratio is presently 2.2 days.

Acurx Pharmaceuticals Trading Up 12.2 %

Shares of ACXP opened at $0.88 on Monday. The stock has a market cap of $15.04 million, a P/E ratio of -0.81 and a beta of -1.71. The stock’s 50-day moving average price is $1.03 and its two-hundred day moving average price is $1.71. Acurx Pharmaceuticals has a 1 year low of $0.68 and a 1 year high of $4.42.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings data 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 quarter last year, the firm posted ($0.24) EPS. As a group, equities analysts forecast that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Acurx Pharmaceuticals

In other Acurx Pharmaceuticals news, CEO David P. Luci bought 49,261 shares of Acurx Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were bought at an average price of $1.01 per share, with a total value of $49,753.61. Following the purchase, the chief executive officer now owns 1,097,458 shares of the company’s stock, valued at $1,108,432.58. This trade represents a 4.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 29.60% of the company’s stock.

Institutional Trading of Acurx Pharmaceuticals

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 6.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 295,075 shares of the company’s stock after buying an additional 16,975 shares during the period. Prospect Financial Services LLC owned approximately 1.86% of Acurx Pharmaceuticals worth $561,000 as of its most recent filing with the SEC. 11.53% of the stock is currently owned by hedge funds and other institutional investors.

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.