Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) CEO Purchases $49,753.61 in Stock

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) CEO David P. Luci acquired 49,261 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was purchased at an average cost of $1.01 per share, for a total transaction of $49,753.61. Following the completion of the purchase, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Acurx Pharmaceuticals Stock Down 6.9 %

Acurx Pharmaceuticals stock opened at $0.75 on Friday. The stock has a market cap of $12.69 million, a PE ratio of -0.69 and a beta of -1.71. Acurx Pharmaceuticals, Inc. has a 12-month low of $0.68 and a 12-month high of $5.28. The business’s 50-day moving average price is $1.17 and its two-hundred day moving average price is $1.77.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.06. During the same quarter in the prior year, the business earned ($0.24) EPS. As a group, analysts expect that Acurx Pharmaceuticals, Inc. will post -0.89 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC raised its position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 295,075 shares of the company’s stock after purchasing an additional 16,975 shares during the quarter. Prospect Financial Services LLC owned 1.86% of Acurx Pharmaceuticals worth $561,000 as of its most recent SEC filing. 11.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Acurx Pharmaceuticals in a research note on Tuesday, December 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.