Heatwurx Inc. (NASDAQ:PCSA) Sees Significant Decrease in Short Interest

Heatwurx Inc. (NASDAQ:PCSA) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 35,949 shares, a drop of 46.6% from the August 15th total of 67,319 shares. Based on an average trading volume of 35,705 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Heatwurx in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Heatwurx Trading Up 3.5%

Heatwurx stock traded up $0.07 during mid-day trading on Tuesday, reaching $1.95. The company had a trading volume of 15,606 shares, compared to its average volume of 125,862. The business has a fifty day simple moving average of $2.22 and a 200 day simple moving average of $2.45. The company has a market cap of $5.38 million, a P/E ratio of -0.46 and a beta of 0.96. Heatwurx has a fifty-two week low of $1.67 and a fifty-two week high of $14.24.

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

About Heatwurx

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.