Heatwurx Inc. (NASDAQ:PCSA) Sees Significant Increase in Short Interest
by Scott Moore · The Cerbat GemHeatwurx Inc. (NASDAQ:PCSA – Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totaling 57,548 shares, an increase of 45.7% from the March 15th total of 39,505 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 44,079 shares, the days-to-cover ratio is currently 1.3 days.
Heatwurx Price Performance
Shares of NASDAQ:PCSA traded up $0.22 during midday trading on Thursday, reaching $3.18. 135,382 shares of the company’s stock were exchanged, compared to its average volume of 62,375. The firm’s 50 day simple moving average is $2.55 and its two-hundred day simple moving average is $4.71. The stock has a market cap of $8.46 million, a price-to-earnings ratio of -0.09 and a beta of 0.89. Heatwurx has a fifty-two week low of $1.76 and a fifty-two week high of $19.64.
Analyst Ratings Changes
Several brokerages have issued reports on PCSA. Weiss Ratings restated a “sell (e+)” rating on shares of Heatwurx in a report on Thursday, January 22nd. Wall Street Zen cut Heatwurx from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.
Read Our Latest Research Report on PCSA
About Heatwurx
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.