Insider Buying: Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) CEO Acquires 49,261 Shares of Stock

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) CEO David P. Luci purchased 49,261 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was bought at an average cost of $1.01 per share, with a total value of $49,753.61. Following the acquisition, the chief executive officer now owns 1,097,458 shares of the company’s stock, valued at approximately $1,108,432.58. The trade was a 4.70 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Acurx Pharmaceuticals Stock Up 7.6 %

Shares of NASDAQ:ACXP opened at $0.81 on Friday. Acurx Pharmaceuticals, Inc. has a 52-week low of $0.68 and a 52-week high of $5.28. The stock has a market cap of $13.65 million, a price-to-earnings ratio of -0.74 and a beta of -1.71. The business has a 50-day moving average price of $1.15 and a 200-day moving average price of $1.76.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Geode Capital Management LLC raised its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 146,500 shares of the company’s stock after buying an additional 16,485 shares during the period. Geode Capital Management LLC owned about 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent quarter. 11.53% of the stock is owned by hedge funds and other institutional investors.

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.