Heatwurx Inc. (NASDAQ:PCSA) Short Interest Update

Heatwurx Inc. (NASDAQ:PCSA) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 35,949 shares, a drop of 46.6% from the August 15th total of 67,319 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 35,705 shares, the days-to-cover ratio is currently 1.0 days.

Heatwurx Stock Performance

Shares of NASDAQ PCSA traded up $0.04 during midday trading on Thursday, reaching $1.90. The stock had a trading volume of 20,053 shares, compared to its average volume of 124,656. The firm has a market cap of $5.25 million, a price-to-earnings ratio of -0.45 and a beta of 0.96. The company’s 50 day moving average price is $2.22 and its 200 day moving average price is $2.44. Heatwurx has a twelve month low of $1.67 and a twelve month high of $14.24.

Heatwurx (NASDAQ:PCSA) last issued its earnings results on Friday, August 14th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.19).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Heatwurx in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Heatwurx presently has an average rating of “Sell”.

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.