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

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) was the target of a large 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. Based on an average daily trading volume, of 105,286 shares, the short-interest ratio is currently 0.9 days. Approximately 2.6% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

Acurx Pharmaceuticals Price Performance

Shares of ACXP stock opened at $1.57 on Tuesday. Acurx Pharmaceuticals has a 52 week low of $1.33 and a 52 week high of $21.00. The stock has a market capitalization of $6.75 million, a PE ratio of -0.39 and a beta of -2.09. The firm has a 50 day moving average of $2.15 and a two-hundred day moving average of $2.73.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACXP. Jane Street Group LLC purchased a new position in shares of Acurx Pharmaceuticals in the 4th quarter valued at about $27,000. Geode Capital Management LLC purchased a new position in shares of Acurx Pharmaceuticals in the 4th quarter valued at about $31,000. Millennium Management LLC acquired a new stake in Acurx Pharmaceuticals during the 4th quarter worth $103,000. Finally, Armistice Capital LLC acquired a new stake in Acurx Pharmaceuticals during the 2nd quarter worth $551,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.

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).