Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Grows By 82.1%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 116,000 shares, a growth of 82.1% from the September 30th total of 63,700 shares. Approximately 6.1% of the shares of the stock are sold short. Based on an average daily volume of 566,600 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 566,600 shares, the short-interest ratio is presently 0.2 days. Approximately 6.1% of the shares of the stock are sold short.

Analyst Ratings Changes

Several research analysts have recently issued reports on ACXP shares. Wall Street Zen downgraded Acurx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. HC Wainwright restated a “buy” rating and set a $31.00 target price on shares of Acurx Pharmaceuticals in a research report on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Acurx Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Acurx Pharmaceuticals Trading Down 1.6%

Shares of ACXP stock opened at $5.02 on Friday. The company has a market capitalization of $7.93 million, a price-to-earnings ratio of -0.47 and a beta of -1.29. The firm has a 50-day moving average price of $5.20 and a 200 day moving average price of $6.98. Acurx Pharmaceuticals has a twelve month low of $3.80 and a twelve month high of $38.57.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings results on Monday, August 11th. The company reported ($1.89) EPS for the quarter, topping analysts’ consensus estimates 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 year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. O Brien Greene & Co. Inc purchased a new position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,000 shares of the company’s stock, valued at approximately $31,000. O Brien Greene & Co. Inc owned 0.20% of Acurx Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 11.53% of the company’s stock.

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.