Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Director Joseph C. Scodari Purchases 24,631 Shares

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Director Joseph C. Scodari bought 24,631 shares of the company’s stock in a transaction on Monday, January 6th. The shares were bought at an average price of $1.01 per share, for a total transaction of $24,877.31. Following the completion of the acquisition, the director now directly owns 27,708 shares in the company, valued at approximately $27,985.08. This trade represents a 800.49 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Acurx Pharmaceuticals Stock Performance

NASDAQ ACXP opened at $0.75 on Thursday. The stock has a market capitalization of $12.69 million, a price-to-earnings ratio of -0.69 and a beta of -1.71. Acurx Pharmaceuticals, Inc. has a 52 week low of $0.68 and a 52 week high of $5.28. The stock’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.78.

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, beating the consensus estimate of ($0.23) by $0.06. During the same quarter last year, the business earned ($0.24) earnings per share. On average, equities research analysts forecast that Acurx Pharmaceuticals, Inc. will post -0.89 EPS for the current year.

Institutional Trading of Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Geode Capital Management LLC grew its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,500 shares of the company’s stock after purchasing an additional 16,485 shares during the quarter. Geode Capital Management LLC owned about 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent quarter. 11.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.