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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target 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. Based on an average daily volume of 103,300 shares, the days-to-cover ratio is currently 5.6 days. Approximately 4.8% of the company’s stock are short sold.

Institutional Trading of Acurx Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Sigma Planning Corp acquired a new stake in Acurx Pharmaceuticals in the fourth quarter valued at $38,000. NBC Securities Inc. bought a new position in shares of Acurx Pharmaceuticals in the first quarter valued at about $34,000. Finally, Prospect Financial Services LLC raised its position in shares of 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 purchasing an additional 17,700 shares during the period. Institutional investors and hedge funds own 11.53% of the company’s stock.

Wall Street Analyst Weigh In

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

Acurx Pharmaceuticals Price Performance

Shares of ACXP stock opened at $2.07 on Friday. The stock has a market cap of $32.62 million, a P/E ratio of -1.80 and a beta of -1.90. The company has a fifty day moving average price of $2.41 and a two-hundred day moving average price of $3.37. Acurx Pharmaceuticals has a one year low of $1.17 and a one year high of $8.82.

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

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.