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

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Acurx Pharmaceuticals

In related news, CEO David P. Luci acquired 49,261 shares of Acurx Pharmaceuticals stock in a transaction on Monday, January 6th. The shares were bought at an average price of $1.01 per share, for a total transaction of $49,753.61. Following the completion of the purchase, the chief executive officer now directly owns 1,097,458 shares in the company, valued at $1,108,432.58. This trade represents a 4.70 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Geode Capital Management LLC raised its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,500 shares of the company’s stock after buying an additional 16,485 shares during the quarter. Geode Capital Management LLC owned about 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent quarter. Institutional investors own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Performance

NASDAQ:ACXP opened at $0.88 on Friday. Acurx Pharmaceuticals has a one year low of $0.68 and a one year high of $4.42. 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 cap of $15.04 million, a price-to-earnings ratio of -0.81 and a beta of -1.71.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.06. During the same period last year, the firm posted ($0.24) earnings per share. On average, equities research analysts predict that Acurx Pharmaceuticals will post -0.89 EPS for the current 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.