Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Short Interest Update

Posted by Defense World Staff on Jul 17th, 2023

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP – Get Free Report) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 8,400 shares, a drop of 27.6% from the June 15th total of 11,600 shares. Based on an average daily trading volume, of 25,700 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are short sold.

Acurx Pharmaceuticals Trading Down 6.6 %

ACXP opened at $2.14 on Monday. The firm’s 50 day simple moving average is $2.80 and its two-hundred day simple moving average is $3.26. Acurx Pharmaceuticals has a 1-year low of $2.13 and a 1-year high of $4.85. The company has a market capitalization of $24.97 million, a PE ratio of -1.93 and a beta of -0.95.

Acurx Pharmaceuticals (NASDAQ:ACXP – Get Free Report) last announced its quarterly earnings results on Friday, May 12th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.09. Equities analysts forecast that Acurx Pharmaceuticals will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. BlackRock Inc. raised its position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP – Free Report) by 149.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,699 shares of the company’s stock after purchasing an additional 10,014 shares during the period. BlackRock Inc. owned 0.16% of Acurx Pharmaceuticals worth $55,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 4.46% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Acurx Pharmaceuticals in a research report on Tuesday, April 11th.

Acurx Pharmaceuticals Company Profile

(Get Free Report)

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 has completed Phase IIa clinical trial to treat patients with clostridium difficile infections.