Short Interest in Heatwurx Inc. (NASDAQ:PCSA) Decreases By 68.8%

Heatwurx Inc. (NASDAQ:PCSA) saw a significant decline in short interest in August. As of August 14th, there was short interest totaling 67,319 shares, a decline of 68.8% from the July 30th total of 215,851 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 78,571 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analyst Weigh In

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

Heatwurx Price Performance

PCSA stock opened at $2.13 on Thursday. The company has a market capitalization of $5.90 million, a P/E ratio of -0.50 and a beta of 0.99. Heatwurx has a 12 month low of $1.67 and a 12 month high of $14.24. The firm’s fifty day simple moving average is $2.22 and its 200-day simple moving average is $2.46.

Heatwurx (NASDAQ:PCSA) last announced its quarterly earnings results on Friday, August 14th. The company reported ($1.19) earnings per share (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.