Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Sees Large Decline in Short Interest

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 474,500 shares, a drop of 5.5% from the October 15th total of 501,900 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average daily trading volume, of 46,900 shares, the days-to-cover ratio is currently 10.1 days.

Acurx Pharmaceuticals Trading Down 2.8 %

NASDAQ:ACXP opened at $1.72 on Monday. The company has a market cap of $29.05 million, a PE ratio of -1.58 and a beta of -1.73. The company has a 50 day simple moving average of $1.95 and a two-hundred day simple moving average of $2.14. Acurx Pharmaceuticals has a 12 month low of $1.52 and a 12 month high of $5.28.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.06. During the same period in the prior year, the business posted ($0.24) earnings per share. Research analysts forecast that Acurx Pharmaceuticals will post -0.89 earnings per share for the current year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC increased its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,075 shares of the company’s stock after purchasing an additional 16,975 shares during the period. Prospect Financial Services LLC owned 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent reporting period. Institutional investors own 11.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Acurx Pharmaceuticals in a research note on Thursday.

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.