Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP – Get Free Report) 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 – Free Report) 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
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.
Read Our Latest Report on ACXP
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.
Read More
- Five stocks we like better than Acurx Pharmaceuticals
- Insider Selling Explained: Can it Inform Your Investing Choices?
- GitLab: Get In While It’s Down—Big Rebound Ahead
- What Are Treasury Bonds?
- Tesla Stock: Finding a Bottom May Take Time
- Quiet Period Expirations Explained
- Duolingo: This Beaten-Down Stock Is About to Rally 38%
Receive News & Ratings for Acurx Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acurx Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.