Prospect Financial Services LLC Boosts Stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP)

Prospect Financial Services LLC boosted its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 329,076 shares of the company’s stock after purchasing an additional 34,001 shares during the period. Prospect Financial Services LLC owned about 1.93% of Acurx Pharmaceuticals worth $268,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC lifted its position in shares of Acurx Pharmaceuticals by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 146,500 shares of the company’s stock valued at $278,000 after buying an additional 16,485 shares in the last quarter. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO David P. Luci acquired 49,261 shares of the company’s stock in a transaction on Monday, January 6th. The stock was acquired at an average price of $1.01 per share, with a total value of $49,753.61. Following the acquisition, the chief executive officer now directly owns 1,097,458 shares of the company’s stock, valued at approximately $1,108,432.58. This trade represents a 4.70 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 29.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Acurx Pharmaceuticals Stock Performance

ACXP opened at $0.84 on Tuesday. The stock has a market cap of $14.31 million, a price-to-earnings ratio of -0.77 and a beta of -1.71. The firm’s fifty day moving average is $0.92 and its 200 day moving average is $1.65. Acurx Pharmaceuticals, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $3.94.

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

Acurx Pharmaceuticals 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.