Short Interest in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Decreases By 37.1%

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 90,033 shares, a decrease of 37.1% from the May 14th total of 143,119 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily volume of 105,286 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Ratings Changes

A number of research firms have weighed in on ACXP. Weiss Ratings reiterated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Monday, April 20th. Wall Street Zen upgraded shares of Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Acurx Pharmaceuticals presently has an average rating of “Hold” and an average target price of $31.00.

Institutional Investors Weigh In On Acurx Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Acurx Pharmaceuticals in the fourth quarter valued at $27,000. Geode Capital Management LLC purchased a new stake in shares of Acurx Pharmaceuticals in the fourth quarter valued at $31,000. Millennium Management LLC purchased a new stake in shares of Acurx Pharmaceuticals in the fourth quarter valued at $103,000. Finally, Armistice Capital LLC purchased a new stake in shares of Acurx Pharmaceuticals in the second quarter valued at $551,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Acurx Pharmaceuticals Stock Performance

Shares of ACXP opened at $1.57 on Monday. Acurx Pharmaceuticals has a twelve month low of $1.33 and a twelve month high of $21.00. The company has a market cap of $6.75 million, a P/E ratio of -0.39 and a beta of -2.09. The company’s fifty day simple moving average is $2.19 and its 200-day simple moving average is $2.74.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Analysts predict that Acurx Pharmaceuticals will post -1.94 earnings per share for the current fiscal year.

About Acurx Pharmaceuticals

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).