Traders Purchase High Volume of Call Options on Acurx Pharmaceuticals (NASDAQ:ACXP)

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of some unusual options trading activity on Tuesday. Investors acquired 4,128 call options on the company. This represents an increase of 17,848% compared to the average daily volume of 23 call options.

Acurx Pharmaceuticals Price Performance

Shares of ACXP opened at $0.72 on Thursday. Acurx Pharmaceuticals has a 1-year low of $0.30 and a 1-year high of $3.33. The stock has a market cap of $16.91 million, a PE ratio of -1.03 and a beta of -1.38. The firm has a 50-day simple moving average of $0.39 and a two-hundred day simple moving average of $0.59.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. As a group, sell-side analysts expect that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. Vanguard Capital Wealth Advisors acquired a new stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 67,500 shares of the company’s stock, valued at approximately $26,000. Vanguard Capital Wealth Advisors owned approximately 0.30% of Acurx Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 11.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Acurx Pharmaceuticals in a research report on Thursday, May 15th.

Acurx Pharmaceuticals Company 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.