Heatwurx Inc. (NASDAQ:PCSA) Short Interest Down 46.6% in August

Heatwurx Inc. (NASDAQ:PCSA) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 35,949 shares, a decline of 46.6% from the August 15th total of 67,319 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 35,705 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heatwurx in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Heatwurx has an average rating of “Sell”.

Heatwurx Trading Up 3.5%

PCSA stock traded up $0.07 during mid-day trading on Tuesday, hitting $1.95. 15,606 shares of the company were exchanged, compared to its average volume of 125,862. The business has a 50 day simple moving average of $2.22 and a 200-day simple moving average of $2.45. The stock has a market capitalization of $5.38 million, a PE ratio of -0.46 and a beta of 0.96. Heatwurx has a 1-year low of $1.67 and a 1-year high of $14.24.

Heatwurx (NASDAQ:PCSA) last posted its earnings results on Friday, August 14th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.19).

Heatwurx Company Profile

Processa Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops chemotherapy drugs to improve the safety and efficacy of cancer treatment. Its drugs are modifications of existing FDA-approved oncology drugs resulting in an alteration of the metabolism and/or distribution of drugs while maintaining the existing mechanisms of killing the cancer cells. The company's pipeline includes three chemotherapy drugs comprising Gemcitabine, PCS3117 that has completed Phase 2a clinical trials to treat pancreatic, biliary tract, lung, ovarian, breast, and other cancers; Capecitabine, a combination of PCS6422 and capecitabine that has completed Phase 1b clinical trials to treat metastatic colorectal, gastrointestinal, breast, pancreatic, and other cancers; and Irinotecan, PCS11T that is in pre-clinical studies to treat lung, colorectal, gastrointestinal, pancreatic, and other cancers.