Acurx Pharmaceuticals (NASDAQ:ACXP) Trading Down 0.2% – Time to Sell?

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) fell 0.2% during mid-day trading on Friday . The stock traded as low as $0.41 and last traded at $0.41. 118,298 shares traded hands during trading, a decline of 25% from the average session volume of 156,841 shares. The stock had previously closed at $0.41.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Acurx Pharmaceuticals in a research note on Wednesday, March 19th.

Acurx Pharmaceuticals Price Performance

The stock has a 50 day simple moving average of $0.43 and a two-hundred day simple moving average of $0.89. The company has a market cap of $9.24 million, a price-to-earnings ratio of -0.38 and a beta of -1.36.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. As a group, research analysts forecast that Acurx Pharmaceuticals, Inc. will post -0.89 EPS for the current year.

Institutional Trading of Acurx Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Vanguard Capital Wealth Advisors purchased a new stake in shares of Acurx Pharmaceuticals during the 1st quarter valued at approximately $26,000. Prospect Financial Services LLC grew its position in Acurx Pharmaceuticals by 11.4% in the first quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock worth $143,000 after acquiring an additional 37,500 shares during the period. Finally, Geode Capital Management LLC increased its stake in Acurx Pharmaceuticals by 12.7% during the third quarter. Geode Capital Management LLC now owns 146,500 shares of the company’s stock worth $278,000 after acquiring an additional 16,485 shares during the last quarter. Hedge funds and other institutional investors own 11.53% of the company’s stock.

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.