Heatwurx Inc. (NASDAQ:PCSA) Shares Shorted: Short Interest Up 1,022.9% in October

Heatwurx Inc. (NASDAQ:PCSA) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 46,488 shares, an increase of 1,022.9% from the September 30th total of 4,140 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 329,090 shares, the days-to-cover ratio is currently 0.1 days.

Heatwurx Stock Up 1.6%

Heatwurx stock traded up $0.03 during mid-day trading on Wednesday, hitting $1.85. The company’s stock had a trading volume of 18,865 shares, compared to its average volume of 126,733. The stock has a market capitalization of $5.18 million, a P/E ratio of -0.44 and a beta of 1.20. Heatwurx has a twelve month low of $1.04 and a twelve month high of $10.84. The stock’s fifty day moving average price is $1.87 and its two-hundred day moving average price is $2.39.

Heatwurx (NASDAQ:PCSA) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.19).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heatwurx in a research report on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Heatwurx 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. 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.