Heatwurx Inc. (NASDAQ:PCSA) Sees Significant Decline in Short Interest

Heatwurx Inc. (NASDAQ:PCSA) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 35,949 shares, a decline of 46.6% from the August 15th total of 67,319 shares. Based on an average trading volume of 35,705 shares, the short-interest ratio is presently 1.0 days. Currently, 1.3% of the shares of the company are sold short.

Heatwurx Stock Down 5.5%

Shares of PCSA traded down $0.11 during mid-day trading on Wednesday, reaching $1.85. The company had a trading volume of 17,090 shares, compared to its average volume of 28,688. Heatwurx has a 52-week low of $1.67 and a 52-week high of $14.24. The stock has a market capitalization of $5.12 million, a P/E ratio of -0.44 and a beta of 0.96. The stock has a 50 day moving average of $2.22 and a two-hundred day moving average of $2.44.

Heatwurx (NASDAQ:PCSA) last posted its earnings results on Friday, August 14th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.19).

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heatwurx in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Heatwurx has an average rating of “Sell”.

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.