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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a large decline in short interest during 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. Based on an average trading volume of 46,900 shares, the short-interest ratio is presently 10.1 days. Approximately 3.4% of the shares of the stock are sold short.

Acurx Pharmaceuticals Price Performance

NASDAQ:ACXP opened at $1.67 on Wednesday. Acurx Pharmaceuticals has a one year low of $1.52 and a one year high of $5.28. The company has a market cap of $28.21 million, a PE ratio of -1.53 and a beta of -1.73. The firm’s 50 day simple moving average is $1.94 and its 200 day simple moving average is $2.13.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings results 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 quarter last year, the business posted ($0.24) EPS. Equities research analysts expect that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Institutional Investors Weigh In On Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC increased its stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,075 shares of the company’s stock after acquiring an additional 16,975 shares during the quarter. Prospect Financial Services LLC owned about 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent reporting period. 11.53% of the stock is currently owned by hedge funds and other institutional investors.

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 research 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.