Short Interest in Heatwurx Inc. (NASDAQ:PCSA) Grows By 108.4%

Heatwurx Inc. (NASDAQ:PCSA) was the recipient of a large increase in short interest in 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. Based on an average trading volume of 953,671 shares, the days-to-cover ratio is presently 0.2 days. Approximately 8.1% of the company’s stock are short sold.

Analyst Ratings Changes

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

Heatwurx Stock Down 2.8%

PCSA stock traded down $0.07 during midday trading on Friday, hitting $2.43. The company’s stock had a trading volume of 49,930 shares, compared to its average volume of 647,212. The stock’s 50-day moving average price is $2.23 and its 200 day moving average price is $2.50. Heatwurx has a 1 year low of $1.67 and a 1 year high of $14.24. 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 (NASDAQ:PCSA) last announced its quarterly earnings data 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.