Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Down 90.2% in March

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a significant decline in short interest in March. As of March 31st, there was short interest totaling 102,286 shares, a decline of 90.2% from the March 15th total of 1,045,893 shares. Currently, 4.5% of the shares of the stock are sold short. Based on an average daily volume of 2,267,481 shares, the days-to-cover ratio is currently 0.0 days.

Acurx Pharmaceuticals Stock Performance

Shares of NASDAQ ACXP opened at $2.61 on Friday. Acurx Pharmaceuticals has a 52-week low of $1.33 and a 52-week high of $21.00. The stock has a market cap of $7.46 million, a P/E ratio of -0.46 and a beta of -1.92. The firm has a 50 day moving average price of $2.94 and a 200 day moving average price of $3.78.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.70. Analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Institutional Trading of Acurx Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ACXP. Geode Capital Management LLC bought a new stake in shares of Acurx Pharmaceuticals in the 4th quarter valued at about $31,000. Armistice Capital LLC bought a new position in Acurx Pharmaceuticals during the second quarter worth about $551,000. Millennium Management LLC acquired a new position in Acurx Pharmaceuticals during the fourth quarter worth approximately $103,000. Finally, Jane Street Group LLC acquired a new position in Acurx Pharmaceuticals during the fourth quarter worth approximately $27,000. Institutional investors own 11.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, December 28th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Company Profile

Acurx Pharmaceuticals, Inc, headquartered in King of Prussia, Pennsylvania, is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel anti‐infective therapies. The company’s research platform leverages insights into bacterial virulence regulation and quorum sensing pathways to design small-molecule candidates aimed at reducing pathogen toxicity and biofilm formation. By targeting key mechanisms of infection rather than bacterial viability alone, Acurx seeks to offer differentiated treatment options that may help address the growing challenge of antibiotic resistance.

Acurx’s lead product candidates are being developed to treat acute bacterial skin and skin structure infections (ABSSSI), including cases caused by drug-resistant strains such as methicillin-resistant Staphylococcus aureus (MRSA).