Geode Capital Management LLC Increases Stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP)

Geode Capital Management LLC lifted its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,500 shares of the company’s stock after buying an additional 16,485 shares during the quarter. Geode Capital Management LLC owned about 0.90% of Acurx Pharmaceuticals worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Prospect Financial Services LLC increased its position in shares of Acurx Pharmaceuticals by 6.1% during the third quarter. Prospect Financial Services LLC now owns 295,075 shares of the company’s stock valued at $561,000 after buying an additional 16,975 shares during the period. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David P. Luci purchased 49,261 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were purchased at an average price of $1.01 per share, for a total transaction of $49,753.61. Following the completion of the acquisition, the chief executive officer now directly owns 1,097,458 shares in the company, valued at $1,108,432.58. This represents a 4.70 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 29.60% of the company’s stock.

Acurx Pharmaceuticals Stock Performance

Shares of ACXP opened at $0.70 on Tuesday. The stock has a market cap of $11.83 million, a PE ratio of -0.64 and a beta of -1.71. Acurx Pharmaceuticals, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $5.00. The firm’s 50-day simple moving average is $1.12 and its two-hundred day simple moving average is $1.74.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Equities research analysts predict that Acurx Pharmaceuticals, Inc. will post -0.89 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Acurx Pharmaceuticals in a report on Friday.

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.