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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient 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 daily trading volume, of 46,900 shares, the short-interest ratio is currently 10.1 days. Approximately 3.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Acurx Pharmaceuticals in a research report on Thursday, November 14th.

Acurx Pharmaceuticals Price Performance

Shares of Acurx Pharmaceuticals stock opened at $1.70 on Tuesday. Acurx Pharmaceuticals has a one year low of $1.52 and a one year high of $5.28. The stock’s 50-day moving average is $1.95 and its 200 day moving average is $2.13. The firm has a market cap of $28.71 million, a price-to-earnings ratio of -1.56 and a beta of -1.73.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its earnings results on Tuesday, November 12th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. During the same period in the prior year, the business posted ($0.24) EPS. On average, sell-side analysts expect 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. Prospect Financial Services LLC increased its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% during the third quarter, according to the company in 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 quarter. Prospect Financial Services LLC owned about 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent quarter. 11.53% of the stock is owned by 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.