Short Interest in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Declines By 28.5%

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 95,300 shares, a decrease of 28.5% from the February 28th total of 133,200 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily volume of 218,700 shares, the days-to-cover ratio is currently 0.4 days.

Insider Buying and Selling

In related news, insider David Young purchased 124,500 shares of the business’s stock in a transaction on Monday, January 27th. The shares were acquired at an average price of $0.80 per share, for a total transaction of $99,600.00. Following the purchase, the insider now owns 205,405 shares of the company’s stock, valued at $164,324. This trade represents a 153.88 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George K. Ng acquired 87,200 shares of the stock in a transaction dated Monday, January 27th. The shares were bought at an average price of $0.80 per share, with a total value of $69,760.00. Following the completion of the purchase, the chief executive officer now directly owns 87,200 shares of the company’s stock, valued at approximately $69,760. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 224,100 shares of company stock worth $179,280 in the last three months. 13.00% of the stock is owned by insiders.

Processa Pharmaceuticals Trading Down 0.3 %

NASDAQ:PCSA traded down $0.00 during trading hours on Friday, hitting $0.39. 48,387 shares of the stock were exchanged, compared to its average volume of 768,874. The company has a market cap of $2.05 million, a P/E ratio of -0.11 and a beta of 0.75. The firm’s fifty day moving average price is $0.55 and its 200 day moving average price is $0.92. Processa Pharmaceuticals has a 52-week low of $0.36 and a 52-week high of $3.31.

Processa Pharmaceuticals (NASDAQ:PCSA) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.18. Equities analysts expect that Processa Pharmaceuticals will post -4.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Processa Pharmaceuticals in a 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.