Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Declines By 95.8%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 27,000 shares, adeclineof95.8% from the July 15th total of 638,200 shares. Based on an average daily trading volume, of 311,000 shares, the days-to-cover ratio is currently 0.1 days. Currently,2.0% of the company’s shares are short sold. Currently,2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 311,000 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

ACXP has been the subject of a number of analyst reports. HC Wainwright boosted their price objective on shares of Acurx Pharmaceuticals to $31.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen upgraded shares of Acurx Pharmaceuticals to a “sell” rating in a report on Saturday, August 9th.

Hedge Funds Weigh In On Acurx Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ACXP. Prospect Financial Services LLC increased its holdings in shares of Acurx Pharmaceuticals by 11.4% in the first quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock valued at $143,000 after purchasing an additional 37,500 shares during the last quarter. Vanguard Capital Wealth Advisors acquired a new position in shares of Acurx Pharmaceuticals in the first quarter valued at $26,000. O Brien Greene & Co. Inc acquired a new position in shares of Acurx Pharmaceuticals in the second quarter valued at $31,000. Finally, Armistice Capital LLC acquired a new position in shares of Acurx Pharmaceuticals in the second quarter valued at $551,000. 11.53% of the stock is currently owned by institutional investors and hedge funds.

Acurx Pharmaceuticals Trading Up 3.0%

NASDAQ ACXP opened at $4.86 on Friday. The firm’s fifty day moving average price is $8.44 and its two-hundred day moving average price is $9.34. Acurx Pharmaceuticals has a 1 year low of $3.80 and a 1 year high of $47.80. The firm has a market capitalization of $7.68 million, a P/E ratio of -0.45 and a beta of -1.27.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its quarterly earnings results on Monday, August 11th. The company reported ($1.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.00) by $0.11. On average, research analysts anticipate that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

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.