Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Decreases By 31.8%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 213,400 shares, a decrease of 31.8% from the January 31st total of 313,100 shares. Based on an average trading volume of 363,600 shares, the short-interest ratio is presently 0.6 days. Approximately 1.3% of the shares of the stock are short sold.

Acurx Pharmaceuticals Price Performance

NASDAQ ACXP opened at $0.67 on Tuesday. The stock’s 50 day simple moving average is $0.79 and its 200 day simple moving average is $1.40. Acurx Pharmaceuticals has a one year low of $0.67 and a one year high of $3.33. The firm has a market cap of $11.42 million, a PE ratio of -0.61 and a beta of -1.72.

Insider Buying and Selling at Acurx Pharmaceuticals

In other news, CEO David P. Luci bought 49,261 shares of Acurx Pharmaceuticals stock in a transaction dated 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 purchase, the chief executive officer now 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 Securities & Exchange Commission, which is available through this link. Company insiders own 29.60% of the company’s stock.

Institutional Trading of Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Geode Capital Management LLC boosted its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 146,500 shares of the company’s stock after acquiring an additional 16,485 shares during the quarter. Geode Capital Management LLC owned approximately 0.90% of Acurx Pharmaceuticals worth $278,000 as of its most recent SEC filing. Institutional investors and hedge funds own 11.53% of the company’s stock.

Wall Street Analyst Weigh In

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

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.