Stock Traders Buy Large Volume of Acurx Pharmaceuticals Call Options (NASDAQ:ACXP)

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw unusually large options trading on Tuesday. Stock investors purchased 4,128 call options on the company. This represents an increase of approximately 17,848% compared to the typical volume of 23 call options.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Acurx Pharmaceuticals stock. Vanguard Capital Wealth Advisors purchased a new stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 67,500 shares of the company’s stock, valued at approximately $26,000. Vanguard Capital Wealth Advisors owned approximately 0.30% of Acurx Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Acurx Pharmaceuticals in a research note on Thursday, May 15th.

Acurx Pharmaceuticals Stock Up 139.3%

Shares of NASDAQ:ACXP traded up $0.43 during trading on Tuesday, reaching $0.74. 284,681,291 shares of the company traded hands, compared to its average volume of 1,321,257. The company’s 50 day moving average is $0.37 and its two-hundred day moving average is $0.58. The firm has a market capitalization of $17.26 million, a PE ratio of -0.67 and a beta of -1.38. Acurx Pharmaceuticals has a 52 week low of $0.30 and a 52 week high of $3.33.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. As a group, research analysts anticipate that Acurx Pharmaceuticals will post -0.89 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.