Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Up 41.9% in January

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 655,000 shares, a growth of 41.9% from the December 31st total of 461,600 shares. Based on an average daily volume of 257,000 shares, the short-interest ratio is currently 2.5 days. Currently, 4.0% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Insider Buying and Selling at Acurx Pharmaceuticals

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Geode Capital Management LLC increased its holdings in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities and 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 approximately 0.90% of Acurx Pharmaceuticals worth $278,000 as of its most recent SEC filing. Institutional investors and hedge funds own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Down 3.7 %

Shares of ACXP stock opened at $0.73 on Friday. The firm has a fifty day moving average of $0.87 and a 200-day moving average of $1.62. Acurx Pharmaceuticals has a 12-month low of $0.68 and a 12-month high of $3.77. The company has a market capitalization of $12.44 million, a price-to-earnings ratio of -0.67 and a beta of -1.71.

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, topping the consensus estimate of ($0.23) by $0.06. During the same quarter in the prior year, the company posted ($0.24) EPS. On average, equities analysts expect that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

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.