Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Short Interest Update

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 73,100 shares, a decrease of 24.9% from the October 31st total of 97,400 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 64,800 shares, the short-interest ratio is presently 1.1 days.

Processa Pharmaceuticals Stock Performance

PCSA traded up $0.15 during trading hours on Friday, hitting $1.13. 36,549 shares of the stock were exchanged, compared to its average volume of 1,109,818. The stock has a 50-day simple moving average of $1.20 and a 200-day simple moving average of $1.52. Processa Pharmaceuticals has a 12 month low of $0.85 and a 12 month high of $17.40.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Processa Pharmaceuticals in a research note on Thursday, October 3rd.

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.