Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Short Interest Update

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 95,300 shares, a drop of 28.5% from the February 28th total of 133,200 shares. Based on an average trading volume of 218,700 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.1% of the shares of the stock are sold short.

Processa Pharmaceuticals Stock Up 11.4 %

Shares of Processa Pharmaceuticals stock traded up $0.04 on Tuesday, hitting $0.41. 878,362 shares of the company were exchanged, compared to its average volume of 766,538. The company has a 50-day moving average price of $0.54 and a 200 day moving average price of $0.91. The stock has a market capitalization of $2.17 million, a price-to-earnings ratio of -0.12 and a beta of 0.75. Processa Pharmaceuticals has a 1-year low of $0.36 and a 1-year high of $3.31.

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

Analyst Ratings Changes

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

Insider Activity at Processa Pharmaceuticals

In other news, CEO George K. Ng acquired 87,200 shares of the business’s stock in a transaction on Monday, January 27th. The stock was bought at an average cost of $0.80 per share, for a total transaction of $69,760.00. Following the purchase, the chief executive officer now owns 87,200 shares in the company, valued at approximately $69,760. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Young bought 124,500 shares of Processa Pharmaceuticals stock in a transaction 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 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 ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 224,100 shares of company stock valued at $179,280. 13.00% of the stock is owned by company insiders.

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.