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 during 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. Currently, 2.7% of the company’s stock are sold short. Based on an average daily volume of 358,400 shares, the short-interest ratio is presently 1.3 days.

Analyst Ratings Changes

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

Insider Activity at Acurx Pharmaceuticals

In other news, CEO David P. Luci purchased 49,261 shares of the company’s stock in a transaction on Monday, January 6th. The shares were purchased at an average cost 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 of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC increased its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 329,076 shares of the company’s stock after buying an additional 34,001 shares during the period. Prospect Financial Services LLC owned 1.93% of Acurx Pharmaceuticals worth $268,000 as of its most recent filing with the SEC. 11.53% of the stock is owned by hedge funds and other institutional investors.

Acurx Pharmaceuticals Trading Up 0.6 %

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. Acurx Pharmaceuticals has a 12 month low of $0.43 and a 12 month high of $3.33. The stock has a 50 day moving average of $0.73 and a 200-day moving average of $1.30.

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.