Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Down 8.1% in December

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 461,600 shares, a decrease of 8.1% from the December 15th total of 502,100 shares. Based on an average daily trading volume, of 210,200 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.8% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Acurx Pharmaceuticals Trading Up 12.2 %

Shares of Acurx Pharmaceuticals stock opened at $0.88 on Friday. The business’s 50 day simple moving average is $1.03 and its 200-day simple moving average is $1.71. The stock has a market capitalization of $15.04 million, a price-to-earnings ratio of -0.81 and a beta of -1.71. Acurx Pharmaceuticals has a twelve month low of $0.68 and a twelve month high of $4.42.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted 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 last year, the firm earned ($0.24) earnings per share. Sell-side analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current year.

Insider Buying and Selling at Acurx Pharmaceuticals

In related news, CEO David P. Luci purchased 49,261 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were acquired at an average cost of $1.01 per share, for a total transaction of $49,753.61. Following the transaction, the chief executive officer now owns 1,097,458 shares of the company’s stock, valued at $1,108,432.58. This trade represents a 4.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 29.60% of the stock is currently owned by insiders.

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Geode Capital Management LLC boosted its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,500 shares of the company’s stock after acquiring an additional 16,485 shares during the quarter. Geode Capital Management LLC owned 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.