Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Expands By 1,712.4%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,045,893 shares, a growth of 1,712.4% from the February 26th total of 57,707 shares. Based on an average daily trading volume, of 16,051,851 shares, the short-interest ratio is presently 0.1 days. Approximately 46.0% of the company’s shares are sold short. Approximately 46.0% of the company’s shares are sold short. Based on an average daily trading volume, of 16,051,851 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

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

Acurx Pharmaceuticals Price Performance

Shares of ACXP opened at $4.28 on Wednesday. The company has a 50-day simple moving average of $2.71 and a two-hundred day simple moving average of $3.84. The firm has a market capitalization of $12.24 million, a PE ratio of -0.76 and a beta of -1.16. Acurx Pharmaceuticals has a one year low of $1.33 and a one year high of $21.00.

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

Hedge Funds Weigh In On Acurx Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC bought a new stake in Acurx Pharmaceuticals during the 2nd quarter valued at about $551,000. Millennium Management LLC purchased a new position in Acurx Pharmaceuticals in the fourth quarter worth about $103,000. Geode Capital Management LLC bought a new position in shares of Acurx Pharmaceuticals in the fourth quarter worth approximately $31,000. Finally, Jane Street Group LLC bought a new position in shares of Acurx Pharmaceuticals in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.

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).