Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Down 5.4% in August

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 439,400 shares, a decrease of 5.4% from the July 31st total of 464,300 shares. Currently, 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 54,000 shares, the days-to-cover ratio is currently 8.1 days.

Institutional Investors Weigh In On Acurx Pharmaceuticals

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC bought a new position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 255,150 shares of the company’s stock, valued at approximately $977,000. Acurx Pharmaceuticals comprises approximately 1.0% of Prospect Financial Services LLC’s investment portfolio, making the stock its 24th biggest position. Prospect Financial Services LLC owned approximately 1.85% of Acurx Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Down 0.5 %

ACXP opened at $2.20 on Monday. The stock has a market cap of $34.85 million, a P/E ratio of -1.86 and a beta of -1.72. Acurx Pharmaceuticals has a 12 month low of $1.17 and a 12 month high of $8.82. The company has a fifty day simple moving average of $2.18 and a 200 day simple moving average of $2.31.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. During the same period in the prior year, the company earned ($0.28) earnings per share. On average, equities research analysts expect that Acurx Pharmaceuticals will post -0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Acurx Pharmaceuticals in a research note on Monday, August 12th.

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.