Insider Buying: Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Director Purchases 24,631 Shares of Stock

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) Director Joseph C. Scodari purchased 24,631 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were purchased at an average cost of $1.01 per share, for a total transaction of $24,877.31. Following the completion of the transaction, the director now directly owns 27,708 shares of the company’s stock, valued at $27,985.08. This represents a 800.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Acurx Pharmaceuticals Stock Performance

ACXP stock traded down $0.06 during mid-day trading on Wednesday, hitting $0.75. The company had a trading volume of 1,695,648 shares, compared to its average volume of 877,882. The firm has a market cap of $12.69 million, a PE ratio of -0.69 and a beta of -1.71. Acurx Pharmaceuticals, Inc. has a 12 month low of $0.68 and a 12 month high of $5.28. The stock’s fifty day moving average price is $1.21 and its two-hundred day moving average price is $1.79.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.06. During the same quarter in the prior year, the business posted ($0.24) earnings per share. Equities analysts anticipate that Acurx Pharmaceuticals, Inc. will post -0.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Acurx Pharmaceuticals in a research report on Tuesday, December 10th.

Hedge Funds Weigh In On Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Geode Capital Management LLC raised its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,500 shares of the company’s stock after purchasing an additional 16,485 shares during the period. Geode Capital Management LLC owned 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent reporting period. Institutional investors own 11.53% of the company’s stock.

About Acurx Pharmaceuticals

Acurx Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops antibiotics to treat bacterial infections. The company's lead antibiotic candidate is ibezapolstat, a novel mechanism of action that targets the polymerase IIIC enzyme that is in Phase 2b clinical trial to treat patients with clostridium difficile infections.