Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Increases By 71.6%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 579,100 shares, an increase of 71.6% from the March 31st total of 337,400 shares. Based on an average daily trading volume, of 103,300 shares, the days-to-cover ratio is currently 5.6 days. Currently, 4.8% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, HC Wainwright decreased their price target on shares of Acurx Pharmaceuticals from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th.

Hedge Funds Weigh In On Acurx Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Prospect Financial Services LLC grew its holdings in shares of Acurx Pharmaceuticals by 6.9% in the first quarter. Prospect Financial Services LLC now owns 272,850 shares of the company’s stock worth $668,000 after purchasing an additional 17,700 shares during the last quarter. NBC Securities Inc. purchased a new stake in Acurx Pharmaceuticals during the 1st quarter valued at $34,000. Finally, Sigma Planning Corp bought a new stake in Acurx Pharmaceuticals in the 4th quarter worth $38,000. 11.53% of the stock is owned by hedge funds and other institutional investors.

Acurx Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ:ACXP opened at $2.02 on Friday. The company’s fifty day moving average is $2.43 and its 200 day moving average is $3.38. Acurx Pharmaceuticals has a 52 week low of $1.17 and a 52 week high of $8.82. The stock has a market cap of $31.84 million, a PE ratio of -1.76 and a beta of -1.90.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.12). Sell-side analysts anticipate that Acurx Pharmaceuticals will post -0.97 EPS for the current year.

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.