Acurx Pharmaceuticals (NASDAQ:ACXP) Shares Down 7%

Shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) fell 7% during trading on Monday . The company traded as low as $1.82 and last traded at $1.87. 108,119 shares traded hands during trading, an increase of 7% from the average session volume of 101,171 shares. The stock had previously closed at $2.01.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Acurx Pharmaceuticals in a report on Monday, August 12th.

Acurx Pharmaceuticals Trading Down 7.0 %

The stock has a market cap of $29.63 million, a P/E ratio of -1.58 and a beta of -1.72. The stock’s fifty day moving average price is $2.13 and its 200 day moving average price is $2.20.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its earnings results on Friday, August 9th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. During the same quarter in the prior year, the firm posted ($0.28) EPS. As a group, sell-side analysts forecast that Acurx Pharmaceuticals, Inc. will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC purchased a new position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 255,150 shares of the company’s stock, valued at approximately $977,000. Acurx Pharmaceuticals makes up 1.0% of Prospect Financial Services LLC’s investment portfolio, making the stock its 24th largest holding. Prospect Financial Services LLC owned approximately 1.85% of Acurx Pharmaceuticals at the end of the most recent reporting period. 11.53% of the stock is owned by institutional investors.

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.