Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Update

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 25,800 shares, a decline of 34.2% from the August 31st total of 39,200 shares. Based on an average daily trading volume, of 73,700 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.8% of the shares of the stock are sold short. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 73,700 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. O Brien Greene & Co. Inc acquired a new stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 60,000 shares of the company’s stock, valued at approximately $31,000. O Brien Greene & Co. Inc owned approximately 0.20% of Acurx Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Performance

Shares of ACXP stock opened at $4.55 on Monday. Acurx Pharmaceuticals has a 52-week low of $3.80 and a 52-week high of $44.00. The firm has a market capitalization of $7.19 million, a P/E ratio of -0.43 and a beta of -1.29. The stock has a 50 day moving average price of $4.76 and a 200 day moving average price of $7.10.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.89) EPS for the quarter, beating the consensus estimate of ($2.00) by $0.11. As a group, sell-side analysts forecast that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ACXP. HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of Acurx Pharmaceuticals in a research note on Tuesday, September 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Saturday, September 27th. Finally, Wall Street Zen downgraded Acurx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Acurx Pharmaceuticals has an average rating of “Hold” and a consensus target price of $31.00.

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.