Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP – Get Rating) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 28,900 shares, an increase of 26.8% from the November 30th total of 22,800 shares. Approximately 0.3% of the company's shares are short sold. Based on an average trading volume of 20,200 shares, the short-interest ratio is presently 1.4 days.
Acurx Pharmaceuticals Price Performance
Shares of ACXP opened at $3.98 on Friday. The stock's 50-day moving average is $3.33 and its two-hundred day moving average is $3.53. The stock has a market cap of $46.14 million, a PE ratio of -3.72 and a beta of -0.73. Acurx Pharmaceuticals has a 12 month low of $2.33 and a 12 month high of $4.89.
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Acurx Pharmaceuticals (NASDAQ:ACXP – Get Rating) last issued its quarterly earnings data on Monday, November 14th. The company reported ($0.32) EPS for the quarter. On average, research analysts anticipate that Acurx Pharmaceuticals will post -1.07 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on ACXP shares. HC Wainwright started coverage on Acurx Pharmaceuticals in a research report on Monday, December 19th. They set a "buy" rating and a $14.00 price target for the company. Alliance Global Partners initiated coverage on Acurx Pharmaceuticals in a research note on Thursday, October 20th. They set a "buy" rating on the stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Semmax Financial Advisors Inc. lifted its stake in shares of Acurx Pharmaceuticals by 365.5% in the second quarter. Semmax Financial Advisors Inc. now owns 5,879 shares of the company's stock worth $28,000 after acquiring an additional 4,616 shares in the last quarter. Castle Wealth Management LLC acquired a new position in shares of Acurx Pharmaceuticals in the second quarter worth about $49,000. BlackRock Inc. lifted its stake in shares of Acurx Pharmaceuticals by 149.8% in the first quarter. BlackRock Inc. now owns 16,699 shares of the company's stock worth $55,000 after acquiring an additional 10,014 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Acurx Pharmaceuticals in the third quarter worth about $3,198,000. Institutional investors and hedge funds own 13.13% of the company's stock.
About Acurx Pharmaceuticals
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Acurx Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops antibiotics to treat bacterial infections. Its lead antibiotic candidate is ibezapolstat, a novel mechanism of action that targets the polymerase IIIC enzyme that has completed Phase IIa clinical trial to treat patients with clostridium difficile infections.
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