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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) CEO David P. Luci acquired 49,261 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were acquired at an average cost of $1.01 per share, for a total transaction of $49,753.61. Following the completion of the acquisition, the chief executive officer now owns 1,097,458 shares of the company’s stock, valued at $1,108,432.58. This trade represents a 4.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Acurx Pharmaceuticals Stock Performance

Shares of Acurx Pharmaceuticals stock opened at $0.81 on Friday. The company has a market capitalization of $13.65 million, a PE ratio of -0.74 and a beta of -1.71. The company has a 50-day simple moving average of $1.15 and a two-hundred day simple moving average of $1.76. Acurx Pharmaceuticals, Inc. has a one year low of $0.68 and a one year high of $5.28.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter in the previous year, the company posted ($0.24) earnings per share. On average, equities analysts predict that Acurx Pharmaceuticals, Inc. will post -0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Acurx Pharmaceuticals in a report on Friday.

Institutional Trading of Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC raised its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 295,075 shares of the company’s stock after buying an additional 16,975 shares during the quarter. Prospect Financial Services LLC owned about 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.