Short Interest in Heatwurx Inc. (NASDAQ:PCSA) Decreases By 65.4%

Heatwurx Inc. (NASDAQ:PCSA) was the target of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 10,356 shares, a decline of 65.4% from the January 29th total of 29,972 shares. Based on an average daily volume of 66,959 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.5% of the company’s stock are short sold. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 66,959 shares, the days-to-cover ratio is presently 0.2 days.

Heatwurx Price Performance

Shares of PCSA traded up $0.15 during trading hours on Thursday, hitting $2.25. The company’s stock had a trading volume of 7,714 shares, compared to its average volume of 68,102. The business has a 50 day simple moving average of $2.94 and a two-hundred day simple moving average of $5.29. Heatwurx has a 52-week low of $1.76 and a 52-week high of $19.64. The company has a market cap of $5.10 million, a price-to-earnings ratio of -0.07 and a beta of 1.14.

Wall Street Analyst Weigh In

Several research firms have commented on PCSA. Wall Street Zen lowered shares of Heatwurx from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heatwurx in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Heatwurx has a consensus rating of “Hold” and an average price target of $25.00.

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.