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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a significant increase in short interest in the month of 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. Based on an average daily trading volume, of 124,000 shares, the short-interest ratio is currently 4.0 days. Currently, 3.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

Acurx Pharmaceuticals Stock Down 4.6 %

Shares of Acurx Pharmaceuticals stock opened at $0.81 on Thursday. Acurx Pharmaceuticals has a 52-week low of $0.72 and a 52-week high of $5.28. The firm’s 50 day moving average price is $1.31 and its 200-day moving average price is $1.84. The company has a market cap of $13.75 million, a P/E ratio of -0.75 and a beta of -1.86.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly 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 period last year, the company earned ($0.24) EPS. As a group, equities research analysts forecast that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Geode Capital Management LLC lifted its holdings in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the third quarter, according to its most recent disclosure with the SEC. 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 approximately 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.53% of the company’s stock.

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.