Acurx Pharmaceuticals (NASDAQ:ACXP) Stock Price Down 9.3% – Here’s What Happened

Shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) traded down 9.3% during trading on Monday . The stock traded as low as $3.67 and last traded at $3.69. 51,114 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 77,019 shares. The stock had previously closed at $4.07.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of Acurx Pharmaceuticals in a research note on Tuesday, September 30th. Finally, Wall Street Zen raised shares of Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Price Performance

The company has a market capitalization of $7.71 million, a P/E ratio of -0.43 and a beta of -1.25. The company has a fifty day moving average price of $5.14 and a 200 day moving average price of $6.19.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($1.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.38. On average, equities research analysts predict that Acurx Pharmaceuticals, Inc. 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. O Brien Greene & Co. Inc acquired a new position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 60,000 shares of the company’s stock, valued at approximately $31,000. O Brien Greene & Co. Inc owned approximately 0.20% of Acurx Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 11.53% of the company’s stock.

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.