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

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,010,000 shares, a growth of 2,108.8% from the March 31st total of 91,000 shares. Based on an average daily volume of 2,040,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 43.4% of the shares of the stock are sold short.

Processa Pharmaceuticals Stock Down 0.7 %

PCSA opened at $0.24 on Monday. Processa Pharmaceuticals has a twelve month low of $0.15 and a twelve month high of $3.10. The company has a 50-day simple moving average of $0.38 and a 200 day simple moving average of $0.76. The stock has a market capitalization of $1.25 million, a price-to-earnings ratio of -0.07 and a beta of 1.05.

Processa Pharmaceuticals (NASDAQ:PCSA) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.18. Sell-side analysts anticipate that Processa Pharmaceuticals will post -4.05 EPS for the current fiscal year.

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.