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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a large 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. Approximately 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 257,000 shares, the short-interest ratio is presently 2.5 days.

Acurx Pharmaceuticals Stock Down 3.7 %

Shares of NASDAQ:ACXP traded down $0.03 during trading on Friday, reaching $0.73. The company’s stock had a trading volume of 104,876 shares, compared to its average volume of 465,753. Acurx Pharmaceuticals has a 12 month low of $0.68 and a 12 month high of $3.77. The firm’s 50 day simple moving average is $0.87 and its two-hundred day simple moving average is $1.61.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter in the prior year, the company posted ($0.24) earnings per share. As a group, equities research analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO David P. Luci acquired 49,261 shares of the company’s stock in a transaction on Monday, January 6th. The stock was acquired at an average price of $1.01 per share, with a total value of $49,753.61. Following the acquisition, the chief executive officer now directly 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 filing with the SEC, which is available through this link. 29.60% of the stock is currently owned by company insiders.

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC raised its position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 329,076 shares of the company’s stock after purchasing an additional 34,001 shares during the quarter. Prospect Financial Services LLC owned 1.93% of Acurx Pharmaceuticals worth $268,000 as of its most recent SEC filing. 11.53% of the stock is owned by hedge funds and other 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.