Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Update

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

Insider Transactions at Acurx Pharmaceuticals

In other Acurx Pharmaceuticals news, CEO David P. Luci bought 49,261 shares of Acurx Pharmaceuticals stock in a transaction dated Monday, January 6th. The stock was bought at an average price of $1.01 per share, with a total value of $49,753.61. Following the completion of the transaction, the chief executive officer now owns 1,097,458 shares in the company, valued at $1,108,432.58. The trade was a 4.70 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 29.60% of the stock is owned by corporate insiders.

Institutional Trading of Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC increased its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,076 shares of the company’s stock after purchasing an additional 34,001 shares during the quarter. Prospect Financial Services LLC owned 1.93% of Acurx Pharmaceuticals worth $268,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 11.53% of the company’s stock.

Acurx Pharmaceuticals Price Performance

Shares of NASDAQ:ACXP opened at $0.46 on Friday. The company has a market capitalization of $8.99 million, a P/E ratio of -0.42 and a beta of -1.71. The business’s 50 day simple moving average is $0.73 and its 200 day simple moving average is $1.30. Acurx Pharmaceuticals has a 1 year low of $0.43 and a 1 year high of $3.33.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Acurx Pharmaceuticals in a 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.