Short Interest in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Declines By 24.9%

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 73,100 shares, a decline of 24.9% from the October 31st total of 97,400 shares. Based on an average daily volume of 64,800 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.5% of the shares of the company are short sold.

Processa Pharmaceuticals Stock Performance

Processa Pharmaceuticals stock traded up $0.18 during midday trading on Friday, reaching $1.16. 55,754 shares of the stock were exchanged, compared to its average volume of 25,873. Processa Pharmaceuticals has a 52 week low of $0.85 and a 52 week high of $17.40. The firm has a market cap of $3.78 million, a PE ratio of -0.34 and a beta of 0.60. The company’s fifty day moving average is $1.19 and its 200-day moving average is $1.50.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Processa Pharmaceuticals in a research note on Thursday, October 3rd.

Processa Pharmaceuticals Company Profile

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.