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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 213,400 shares, a decrease of 31.8% from the January 31st total of 313,100 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 363,600 shares, the days-to-cover ratio is presently 0.6 days.

Insider Activity

In other news, CEO David P. Luci acquired 49,261 shares of the company’s stock in a transaction on Monday, January 6th. The stock was purchased at an average cost of $1.01 per share, with a total value of $49,753.61. Following the acquisition, the chief executive officer now owns 1,097,458 shares of the company’s stock, valued at $1,108,432.58. This trade represents a 4.70 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 29.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Geode Capital Management LLC grew its stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,500 shares of the company’s stock after acquiring an additional 16,485 shares during the quarter. Geode Capital Management LLC owned 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent quarter. Institutional investors own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Performance

Shares of Acurx Pharmaceuticals stock opened at $0.62 on Wednesday. The firm has a fifty day moving average of $0.79 and a two-hundred day moving average of $1.39. The stock has a market capitalization of $10.62 million, a price-to-earnings ratio of -0.57 and a beta of -1.72. Acurx Pharmaceuticals has a 52 week low of $0.60 and a 52 week high of $3.33.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Acurx Pharmaceuticals in a research report on Friday, January 10th.

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.