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

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

Processa Pharmaceuticals Stock Performance

Shares of NASDAQ PCSA traded down $0.08 during trading on Tuesday, reaching $0.53. The company had a trading volume of 217,093 shares, compared to its average volume of 74,775. Processa Pharmaceuticals has a 52 week low of $0.47 and a 52 week high of $3.31. The business’s 50 day moving average price is $0.94 and its 200-day moving average price is $1.25. The stock has a market cap of $1.74 million, a PE ratio of -0.16 and a beta of 0.62.

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

Wall Street Analyst Weigh In

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

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.