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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 63,700 shares, a growth of 146.9% from the September 15th total of 25,800 shares. Approximately 4.4% of the company’s stock are short sold. Based on an average daily trading volume, of 546,000 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 546,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 4.4% of the company’s stock are short sold.

Institutional Trading of Acurx Pharmaceuticals

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,078,540 shares of the company’s stock, valued at approximately $551,000. Armistice Capital LLC owned about 70.13% of Acurx Pharmaceuticals at the end of the most recent reporting period. 11.53% of the stock is owned by institutional investors.

Acurx Pharmaceuticals Trading Up 2.5%

Shares of ACXP opened at $6.97 on Tuesday. Acurx Pharmaceuticals has a 12 month low of $3.80 and a 12 month high of $40.40. The firm has a fifty day simple moving average of $4.95 and a 200 day simple moving average of $7.01. The stock has a market capitalization of $11.01 million, a price-to-earnings ratio of -0.65 and a beta of -1.29.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Acurx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $31.00 price target on shares of Acurx Pharmaceuticals in a report on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.00.

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.