Short Interest in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Declines By 74.3%

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 236,200 shares, a decline of 74.3% from the January 31st total of 920,400 shares. Currently, 6.0% of the company’s shares are short sold. Based on an average daily trading volume, of 472,500 shares, the days-to-cover ratio is currently 0.5 days.

Processa Pharmaceuticals Trading Up 1.9 %

Shares of Processa Pharmaceuticals stock opened at $0.55 on Friday. The firm has a market capitalization of $1.79 million, a P/E ratio of -0.16 and a beta of 0.56. The business has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $1.06. Processa Pharmaceuticals has a 12 month low of $0.47 and a 12 month high of $3.31.

Insider Buying and Selling

In other Processa Pharmaceuticals news, insider David Young purchased 124,500 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was bought at an average price of $0.80 per share, with a total value of $99,600.00. Following the completion of the purchase, the insider now directly owns 205,405 shares of the company’s stock, valued at $164,324. The trade was a 153.88 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George K. Ng purchased 87,200 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was acquired at an average cost of $0.80 per share, with a total value of $69,760.00. Following the purchase, the chief executive officer now directly owns 87,200 shares of the company’s stock, valued at $69,760. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 224,100 shares of company stock valued at $179,280 over the last three months. 13.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Processa Pharmaceuticals in a research note on Thursday, December 5th.

About Processa Pharmaceuticals

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.