Short Interest in Heatwurx Inc. (NASDAQ:PCSA) Drops By 36.4%

Heatwurx Inc. (NASDAQ:PCSA) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 3,454,719 shares, a decline of 36.4% from the November 30th total of 5,434,144 shares. Based on an average trading volume of 1,992,460 shares, the short-interest ratio is presently 1.7 days. Approximately 156.2% of the shares of the company are short sold. Approximately 156.2% of the shares of the company are short sold. Based on an average trading volume of 1,992,460 shares, the short-interest ratio is presently 1.7 days.

Heatwurx Trading Down 14.1%

Shares of NASDAQ:PCSA traded down $0.48 during trading on Tuesday, reaching $2.93. 229,701 shares of the company traded hands, compared to its average volume of 510,047. Heatwurx has a 52-week low of $2.74 and a 52-week high of $27.00. The firm has a market capitalization of $6.65 million, a price-to-earnings ratio of -0.09 and a beta of 1.10. The business’s fifty day moving average is $6.65 and its 200-day moving average is $6.15.

Heatwurx (NASDAQ:PCSA) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.75) EPS for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.25. On average, sell-side analysts predict that Heatwurx will post -4.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCSA has been the topic of a number of analyst reports. HC Wainwright decreased their target price on shares of Heatwurx from $50.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, September 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Heatwurx in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Heatwurx to a “sell” rating in a report on Saturday, December 20th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.00.

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.