Heatwurx Inc. (NASDAQ:PCSA) Short Interest Up 108.4% in July

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

Analysts Set New Price Targets

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

Heatwurx Stock Performance

Shares of NASDAQ:PCSA opened at $2.43 on Monday. The company’s fifty day moving average is $2.23 and its two-hundred day moving average 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 capitalization of $6.73 million, a price-to-earnings ratio of -0.26 and a beta of 0.98.

Heatwurx (NASDAQ:PCSA) last posted its quarterly 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).

Heatwurx 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. 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.