Short Interest in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Decreases By 28.5%

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 95,300 shares, a decrease of 28.5% from the February 28th total of 133,200 shares. Based on an average daily volume of 218,700 shares, the short-interest ratio is currently 0.4 days. Approximately 2.1% of the company’s stock are short sold.

Insider Activity at Processa Pharmaceuticals

In related news, insider David Young purchased 124,500 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were purchased at an average cost of $0.80 per share, with a total value of $99,600.00. Following the completion of the acquisition, the insider now directly owns 205,405 shares of the company’s stock, valued at approximately $164,324. The trade was a 153.88 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George K. Ng acquired 87,200 shares of Processa Pharmaceuticals stock in a transaction on Monday, January 27th. The shares were bought at an average price of $0.80 per share, for a total transaction of $69,760.00. Following the completion of the purchase, the chief executive officer now directly owns 87,200 shares in the company, valued at $69,760. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 224,100 shares of company stock valued at $179,280. Insiders own 13.00% of the company’s stock.

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 report on Thursday, December 5th.

Processa Pharmaceuticals Trading Down 4.9 %

PCSA traded down $0.02 during trading on Monday, reaching $0.37. 41,147 shares of the company were exchanged, compared to its average volume of 765,975. The stock has a market cap of $1.95 million, a P/E ratio of -0.11 and a beta of 0.75. Processa Pharmaceuticals has a 52 week low of $0.34 and a 52 week high of $3.31. The firm has a 50 day moving average of $0.55 and a 200 day moving average of $0.92.

Processa Pharmaceuticals (NASDAQ:PCSA) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.18. As a group, analysts forecast that Processa Pharmaceuticals will post -4.05 earnings per share for the current fiscal year.

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.