Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Sees Large Growth in Short Interest

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 478,300 shares, an increase of 5.6% from the August 31st total of 452,800 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average trading volume of 61,400 shares, the short-interest ratio is presently 7.8 days.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC acquired a new stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 255,150 shares of the company’s stock, valued at approximately $977,000. Acurx Pharmaceuticals comprises approximately 1.0% of Prospect Financial Services LLC’s investment portfolio, making the stock its 24th largest position. Prospect Financial Services LLC owned approximately 1.85% of Acurx Pharmaceuticals at the end of the most recent reporting period. 11.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Acurx Pharmaceuticals in a research note on Monday, August 12th.

Acurx Pharmaceuticals Trading Down 2.5 %

Shares of Acurx Pharmaceuticals stock opened at $1.92 on Monday. The stock has a 50 day moving average of $2.08 and a 200 day moving average of $2.17. Acurx Pharmaceuticals has a 12 month low of $1.17 and a 12 month high of $8.82. The firm has a market cap of $30.42 million, a PE ratio of -1.63 and a beta of -1.72.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. During the same period in the prior year, the business earned ($0.28) EPS. As a group, equities research analysts forecast that Acurx Pharmaceuticals will post -0.98 earnings per share for the current fiscal 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.