Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Sees Significant Growth in Short Interest

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 1,045,893 shares, a growth of 1,712.4% from the February 26th total of 57,707 shares. Currently, 46.0% of the shares of the stock are sold short. Based on an average daily volume of 16,051,851 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Acurx Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Armistice Capital LLC bought a new position in Acurx Pharmaceuticals in the 2nd quarter valued at $551,000. Geode Capital Management LLC acquired a new stake in shares of Acurx Pharmaceuticals in the fourth quarter valued at $31,000. Jane Street Group LLC bought a new position in shares of Acurx Pharmaceuticals in the fourth quarter valued at about $27,000. Finally, Millennium Management LLC bought a new position in shares of Acurx Pharmaceuticals in the fourth quarter valued at about $103,000. 11.53% of the stock is owned by institutional investors and hedge funds.

Acurx Pharmaceuticals Stock Down 0.2%

Shares of Acurx Pharmaceuticals stock opened at $4.27 on Thursday. Acurx Pharmaceuticals has a 12-month low of $1.33 and a 12-month high of $21.00. The stock has a market capitalization of $12.21 million, a P/E ratio of -0.76 and a beta of -1.16. The company has a 50-day simple moving average of $2.74 and a 200 day simple moving average of $3.85.

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

Analyst Ratings Changes

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

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).