Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Sees Large Decrease in Short Interest

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the target of a large decline in short interest in January. As of January 15th, there was short interest totalling 119,600 shares, a decline of 64.1% from the December 31st total of 333,200 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average trading volume of 316,800 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Processa Pharmaceuticals in a report on Thursday, December 5th.

Processa Pharmaceuticals Price Performance

Processa Pharmaceuticals stock traded down $0.08 during midday trading on Tuesday, hitting $0.53. 217,093 shares of the stock were exchanged, compared to its average volume of 74,775. Processa Pharmaceuticals has a 1 year low of $0.47 and a 1 year high of $3.31. The firm has a market cap of $1.74 million, a P/E ratio of -0.16 and a beta of 0.62. The company has a 50 day moving average price of $0.94 and a two-hundred day moving average price of $1.25.

Processa Pharmaceuticals (NASDAQ:PCSA) last released its earnings results on Wednesday, October 30th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.03). As a group, analysts predict that Processa Pharmaceuticals will post -4.05 EPS for the current year.

Processa Pharmaceuticals 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.