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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 452,800 shares, a growth of 112.2% from the February 13th total of 213,400 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 358,400 shares, the short-interest ratio is presently 1.3 days.

Acurx Pharmaceuticals Stock Down 1.5 %

Shares of ACXP stock opened at $0.46 on Friday. The stock has a market cap of $8.93 million, a price-to-earnings ratio of -0.42 and a beta of -1.71. The business’s fifty day moving average is $0.74 and its 200 day moving average is $1.32. Acurx Pharmaceuticals has a twelve month low of $0.43 and a twelve month high of $3.33.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CEO David P. Luci purchased 49,261 shares of Acurx Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were bought at an average cost of $1.01 per share, with a total value of $49,753.61. Following the completion of the purchase, the chief executive officer now directly owns 1,097,458 shares in the company, valued at approximately $1,108,432.58. This trade represents a 4.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 29.60% of the company’s stock.

Institutional Investors 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% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 and hedge funds own 11.53% of the company’s stock.

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.