Acurx Pharmaceuticals (NASDAQ:ACXP) Shares Down 6.2% – Here’s What Happened

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) shares dropped 6.2% during trading on Wednesday . The stock traded as low as $1.34 and last traded at $1.36. 151,805 shares traded hands during mid-day trading, an increase of 111% from the average daily volume of 71,957 shares. The stock had previously closed at $1.45.

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 report on Monday, April 20th. Wall Street Zen upgraded Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Price Performance

The firm’s 50 day moving average price is $1.77 and its 200-day moving average price is $2.46. The stock has a market cap of $5.85 million, a P/E ratio of -0.34 and a beta of -2.05.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). On average, analysts expect that Acurx Pharmaceuticals, Inc. will post -1.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC purchased a new position in shares of Acurx Pharmaceuticals during the 4th quarter worth $103,000. Jane Street Group LLC bought a new position in Acurx Pharmaceuticals in the 4th quarter worth $27,000. Geode Capital Management LLC bought a new position in Acurx Pharmaceuticals in the 4th quarter worth $31,000. Finally, Armistice Capital LLC bought a new stake in Acurx Pharmaceuticals during the second quarter valued at about $551,000. 11.53% of the stock is currently owned by institutional investors.

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).