Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Up 71.6% in April

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 579,100 shares, an increase of 71.6% from the March 31st total of 337,400 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average trading volume of 103,300 shares, the short-interest ratio is presently 5.6 days.

Institutional Trading of Acurx Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ACXP. NBC Securities Inc. purchased a new stake in Acurx Pharmaceuticals in the first quarter valued at about $34,000. Sigma Planning Corp acquired a new position in shares of Acurx Pharmaceuticals during the fourth quarter valued at about $38,000. Finally, Prospect Financial Services LLC raised its position in shares of Acurx Pharmaceuticals by 6.9% in the 1st quarter. Prospect Financial Services LLC now owns 272,850 shares of the company’s stock valued at $668,000 after purchasing an additional 17,700 shares during the last quarter. Institutional investors and hedge funds own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Performance

NASDAQ:ACXP opened at $2.02 on Friday. The company’s 50-day simple moving average is $2.43 and its 200-day simple moving average is $3.38. Acurx Pharmaceuticals has a fifty-two week low of $1.17 and a fifty-two week high of $8.82. The stock has a market capitalization of $31.84 million, a P/E ratio of -1.76 and a beta of -1.90.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its earnings results on Friday, March 15th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.12). On average, research analysts forecast that Acurx Pharmaceuticals will post -0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright decreased their price objective on Acurx Pharmaceuticals from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th.

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.