Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Sees Large Growth in Short Interest

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 478,300 shares, a growth of 5.6% from the August 31st total of 452,800 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 61,400 shares, the days-to-cover ratio is currently 7.8 days.

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently bought a new stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC acquired a new stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 255,150 shares of the company’s stock, valued at approximately $977,000. Acurx Pharmaceuticals comprises 1.0% of Prospect Financial Services LLC’s portfolio, making the stock its 24th biggest holding. Prospect Financial Services LLC owned 1.85% of Acurx Pharmaceuticals at the end of the most recent reporting period. 11.53% of the stock is owned by hedge funds and other institutional investors.

Acurx Pharmaceuticals Stock Performance

Acurx Pharmaceuticals stock opened at $1.92 on Monday. The stock has a market cap of $30.42 million, a PE ratio of -1.63 and a beta of -1.72. Acurx Pharmaceuticals has a one year low of $1.17 and a one year high of $8.82. The stock has a fifty day moving average of $2.08 and a 200 day moving average of $2.17.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. During the same period in the previous year, the firm posted ($0.28) EPS. As a group, sell-side analysts predict that Acurx Pharmaceuticals will post -0.98 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Acurx Pharmaceuticals

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.