Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Sees Large Growth in Short Interest

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 63,700 shares, an increase of 146.9% from the September 15th total of 25,800 shares. Based on an average daily volume of 546,000 shares, the short-interest ratio is currently 0.1 days. Currently, 4.4% of the company’s shares are short sold. Currently, 4.4% of the company’s shares are short sold. Based on an average daily volume of 546,000 shares, the short-interest ratio is currently 0.1 days.

Acurx Pharmaceuticals Price Performance

ACXP stock opened at $6.80 on Monday. The firm has a market capitalization of $10.74 million, a P/E ratio of -0.64 and a beta of -1.29. The business’s 50-day moving average is $4.90 and its two-hundred day moving average is $7.01. Acurx Pharmaceuticals has a 1 year low of $3.80 and a 1 year high of $41.00.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its quarterly earnings results on Monday, August 11th. The company reported ($1.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.11. On average, analysts expect that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Institutional Investors Weigh In On Acurx Pharmaceuticals

A hedge fund recently bought a new stake in Acurx Pharmaceuticals stock. O Brien Greene & Co. Inc purchased a new stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 60,000 shares of the company’s stock, valued at approximately $31,000. O Brien Greene & Co. Inc owned approximately 0.20% of Acurx Pharmaceuticals at the end of the most recent reporting period. 11.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACXP. HC Wainwright reissued a “buy” rating and set a $31.00 target price on shares of Acurx Pharmaceuticals in a research note on Tuesday, September 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Acurx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.00.

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.