Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Drops By 21.8%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a large decline in short interest in February. As of February 27th, there was short interest totaling 57,707 shares, a decline of 21.8% from the February 12th total of 73,787 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily volume of 59,146 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 59,146 shares, the short-interest ratio is presently 1.0 days. Approximately 2.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACXP. Armistice Capital LLC bought a new stake in Acurx Pharmaceuticals in the 2nd quarter worth approximately $551,000. Millennium Management LLC purchased a new stake in Acurx Pharmaceuticals during the 4th quarter valued at $103,000. Geode Capital Management LLC bought a new position in shares of Acurx Pharmaceuticals during the 4th quarter valued at $31,000. Finally, Jane Street Group LLC bought a new position in shares of Acurx Pharmaceuticals during the 4th quarter valued at $27,000. Institutional investors own 11.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ACXP has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Price Performance

Shares of NASDAQ:ACXP opened at $4.81 on Tuesday. Acurx Pharmaceuticals has a 1 year low of $1.33 and a 1 year high of $21.00. The company has a market cap of $13.76 million, a P/E ratio of -0.85 and a beta of -1.16. The stock’s fifty day moving average price is $2.43 and its 200-day moving average price is $3.80.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.70. On average, sell-side analysts anticipate that Acurx Pharmaceuticals will post -0.89 earnings per share for the current year.

Acurx Pharmaceuticals Company Profile

Acurx Pharmaceuticals, Inc, headquartered in King of Prussia, Pennsylvania, is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel anti‐infective therapies. The company’s research platform leverages insights into bacterial virulence regulation and quorum sensing pathways to design small-molecule candidates aimed at reducing pathogen toxicity and biofilm formation. By targeting key mechanisms of infection rather than bacterial viability alone, Acurx seeks to offer differentiated treatment options that may help address the growing challenge of antibiotic resistance.

Acurx’s lead product candidates are being developed to treat acute bacterial skin and skin structure infections (ABSSSI), including cases caused by drug-resistant strains such as methicillin-resistant Staphylococcus aureus (MRSA).