76,865 Shares in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Bought by Spinnaker Trust

Spinnaker Trust acquired a new position in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned approximately 6.25% of Processa Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PCSA. Benchmark reissued a “speculative buy” rating on shares of Processa Pharmaceuticals in a research note on Wednesday, March 6th. HC Wainwright began coverage on Processa Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $8.00 target price on the stock.

Processa Pharmaceuticals Stock Performance

Shares of Processa Pharmaceuticals stock traded down $0.28 during trading on Friday, reaching $2.15. 1,856,628 shares of the stock were exchanged, compared to its average volume of 4,279,850. The stock’s fifty day moving average is $2.19 and its 200 day moving average is $5.59. Processa Pharmaceuticals, Inc. has a 1 year low of $1.40 and a 1 year high of $18.00.

Processa Pharmaceuticals (NASDAQ:PCSA) last posted its earnings results on Friday, March 29th. The company reported ($0.24) earnings per share for the quarter.

Insiders Place Their Bets

In related news, CEO George K. Ng acquired 10,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was acquired at an average cost of $2.70 per share, for a total transaction of $27,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $54,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Processa Pharmaceuticals news, insider David Young bought 21,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was purchased at an average cost of $2.45 per share, for a total transaction of $51,450.00. Following the completion of the acquisition, the insider now owns 79,387 shares of the company’s stock, valued at $194,498.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO George K. Ng bought 10,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were acquired at an average price of $2.70 per share, with a total value of $27,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $54,000. The disclosure for this purchase can be found here. Insiders purchased 41,500 shares of company stock worth $105,895 over the last three months. Company insiders own 22.20% of the company’s stock.

Processa Pharmaceuticals Company Profile

Processa Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on developing the 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.