Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Sees Large Increase in Short Interest

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

Acurx Pharmaceuticals Price Performance

Shares of ACXP stock traded down $0.25 during trading hours on Tuesday, reaching $4.28. 1,005,668 shares of the company’s stock were exchanged, compared to its average volume of 3,392,937. The company’s 50 day moving average is $2.68 and its two-hundred day moving average is $3.84. The company has a market cap of $12.22 million, a P/E ratio of -0.76 and a beta of -1.16. Acurx Pharmaceuticals has a 1 year low of $1.33 and a 1 year high of $21.00.

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

Hedge Funds Weigh In On Acurx Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACXP. Jane Street Group LLC acquired a new stake in shares of Acurx Pharmaceuticals during the fourth quarter worth $27,000. Geode Capital Management LLC purchased a new position in Acurx Pharmaceuticals during the fourth quarter worth about $31,000. Millennium Management LLC purchased a new position in Acurx Pharmaceuticals during the fourth quarter worth about $103,000. Finally, Armistice Capital LLC acquired a new stake in Acurx Pharmaceuticals in the 2nd quarter worth about $551,000. Institutional investors and hedge funds own 11.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, 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).