Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Increases By 112.2%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 452,800 shares, an increase of 112.2% from the February 13th total of 213,400 shares. Based on an average daily volume of 358,400 shares, the days-to-cover ratio is currently 1.3 days. Currently, 2.7% of the company’s stock are short sold.

Acurx Pharmaceuticals Trading Up 0.6 %

Shares of NASDAQ:ACXP opened at $0.46 on Friday. The stock has a market capitalization of $8.99 million, a PE ratio of -0.42 and a beta of -1.71. Acurx Pharmaceuticals has a 1 year low of $0.43 and a 1 year high of $3.33. The firm has a fifty day moving average price of $0.73 and a 200 day moving average price of $1.31.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Acurx Pharmaceuticals in a research note on Friday, January 10th.

Insider Buying and Selling at Acurx Pharmaceuticals

In related news, CEO David P. Luci purchased 49,261 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were acquired at an average cost of $1.01 per share, with a total value of $49,753.61. Following the completion of the purchase, the chief executive officer now 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC raised its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,076 shares of the company’s stock after acquiring an additional 34,001 shares during the period. Prospect Financial Services LLC owned approximately 1.93% of Acurx Pharmaceuticals worth $268,000 as of its most recent SEC filing. 11.53% of the stock is owned by institutional investors and hedge funds.

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.