Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Decreases By 95.8%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 27,000 shares, adeclineof95.8% from the July 15th total of 638,200 shares. Based on an average daily trading volume, of 311,000 shares, the days-to-cover ratio is currently 0.1 days. Currently,2.0% of the company’s shares are sold short. Currently,2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 311,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Acurx Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Capital Wealth Advisors acquired a new stake in shares of Acurx Pharmaceuticals during the first quarter worth $26,000. Prospect Financial Services LLC raised its holdings in shares of Acurx Pharmaceuticals by 11.4% during the first quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock worth $143,000 after purchasing an additional 37,500 shares during the period. Armistice Capital LLC acquired a new stake in shares of Acurx Pharmaceuticals during the second quarter worth $551,000. Finally, O Brien Greene & Co. Inc acquired a new stake in shares of Acurx Pharmaceuticals during the second quarter worth $31,000. 11.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ACXP. HC Wainwright boosted their target price on shares of Acurx Pharmaceuticals to $31.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen raised shares of Acurx Pharmaceuticals to a “sell” rating in a research report on Saturday, August 9th.

Acurx Pharmaceuticals Price Performance

NASDAQ ACXP opened at $5.11 on Friday. Acurx Pharmaceuticals has a 12 month low of $3.80 and a 12 month high of $47.80. The company has a market capitalization of $8.07 million, a price-to-earnings ratio of -0.48 and a beta of -1.27. The company’s fifty day moving average price is $8.40 and its two-hundred day moving average price is $9.27.

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

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.