Heatwurx Inc. (NASDAQ:PCSA) Short Interest Up 108.4% in July

Heatwurx Inc. (NASDAQ:PCSA) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 215,851 shares, an increase of 108.4% from the July 15th total of 103,554 shares. Currently, 8.1% of the company’s shares are short sold. Based on an average daily trading volume, of 953,671 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heatwurx in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

Heatwurx Trading Down 2.8%

Heatwurx stock traded down $0.07 during trading on Friday, hitting $2.43. The company had a trading volume of 49,930 shares, compared to its average volume of 647,212. The stock has a market cap of $6.73 million, a price-to-earnings ratio of -0.26 and a beta of 0.99. Heatwurx has a 1-year low of $1.67 and a 1-year high of $14.24. The company’s 50 day simple moving average is $2.23 and its 200-day simple moving average is $2.50.

Heatwurx (NASDAQ:PCSA) last released 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.