Acurx Pharmaceuticals (NASDAQ:ACXP) Stock Price Up 5.6% – Here’s What Happened

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP)’s share price traded up 5.6% on Friday . The stock traded as high as $0.36 and last traded at $0.35. 101,940 shares were traded during trading, a decline of 34% from the average session volume of 155,204 shares. The stock had previously closed at $0.34.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Acurx Pharmaceuticals in a report on Wednesday, March 19th.

Acurx Pharmaceuticals Stock Up 5.6 %

The company has a market capitalization of $7.94 million, a P/E ratio of -0.33 and a beta of -1.36. The firm has a fifty day simple moving average of $0.54 and a 200-day simple moving average of $1.05.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its earnings results on Monday, March 17th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. On average, sell-side analysts predict that Acurx Pharmaceuticals, Inc. will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Vanguard Capital Wealth Advisors bought a new position in shares of Acurx Pharmaceuticals in the 1st quarter valued at about $26,000. Prospect Financial Services LLC lifted its position in Acurx Pharmaceuticals by 11.4% during the first quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock worth $143,000 after acquiring an additional 37,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Acurx Pharmaceuticals by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 146,500 shares of the company’s stock valued at $278,000 after buying an additional 16,485 shares in the last quarter. Institutional investors and hedge funds own 11.53% of the company’s stock.

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.