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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 579,100 shares, a growth of 71.6% from the March 31st total of 337,400 shares. Approximately 4.8% of the company’s shares are short sold. Based on an average daily volume of 103,300 shares, the short-interest ratio is currently 5.6 days.

Institutional Trading of Acurx Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Prospect Financial Services LLC boosted its holdings in Acurx Pharmaceuticals by 6.9% in the first quarter. Prospect Financial Services LLC now owns 272,850 shares of the company’s stock valued at $668,000 after acquiring an additional 17,700 shares in the last quarter. NBC Securities Inc. bought a new stake in Acurx Pharmaceuticals in the first quarter valued at $34,000. Finally, Sigma Planning Corp bought a new stake in Acurx Pharmaceuticals in the fourth quarter valued at $38,000. Institutional investors own 11.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright cut their target price on shares of Acurx Pharmaceuticals from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th.

Acurx Pharmaceuticals Stock Performance

Shares of Acurx Pharmaceuticals stock opened at $2.07 on Friday. Acurx Pharmaceuticals has a 52-week low of $1.17 and a 52-week high of $8.82. The stock has a market capitalization of $32.62 million, a price-to-earnings ratio of -1.80 and a beta of -1.90. The company’s 50 day moving average price is $2.41 and its 200-day moving average price is $3.37.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its earnings results on Friday, March 15th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.12). As a group, equities research analysts forecast that Acurx Pharmaceuticals will post -0.97 earnings per share for the current fiscal year.

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.