Acurx Pharmaceuticals Sees Unusually High Options Volume (NASDAQ:ACXP)

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of unusually large options trading on Tuesday. Investors bought 4,128 call options on the company. This is an increase of 17,848% compared to the typical daily volume of 23 call options.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC grew its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,576 shares of the company’s stock after purchasing an additional 37,500 shares during the period. Prospect Financial Services LLC owned approximately 1.64% of Acurx Pharmaceuticals worth $143,000 at the end of the most recent reporting period. 11.53% of the stock is owned by institutional investors.

Acurx Pharmaceuticals Stock Performance

Shares of ACXP stock traded up $0.43 during mid-day trading on Tuesday, hitting $0.74. The company’s stock had a trading volume of 284,681,291 shares, compared to its average volume of 1,321,257. Acurx Pharmaceuticals has a 52-week low of $0.30 and a 52-week high of $3.33. The business has a 50-day moving average price of $0.37 and a 200 day moving average price of $0.58. The stock has a market cap of $17.26 million, a price-to-earnings ratio of -0.67 and a beta of -1.38.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Equities research analysts predict that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

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.