Short Interest in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Decreases By 74.3%

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the target of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 236,200 shares, a drop of 74.3% from the January 31st total of 920,400 shares. Currently, 6.0% of the shares of the company are sold short. Based on an average daily trading volume, of 472,500 shares, the short-interest ratio is currently 0.5 days.

Insiders Place Their Bets

In other news, CEO George K. Ng purchased 87,200 shares of the company’s stock in a transaction on Monday, January 27th. The shares were acquired at an average price 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 $69,760. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Young acquired 124,500 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was purchased at an average cost of $0.80 per share, for a total transaction 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. This trade represents a 153.88 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 224,100 shares of company stock valued at $179,280. Insiders own 13.00% of the company’s stock.

Processa Pharmaceuticals Price Performance

Shares of Processa Pharmaceuticals stock opened at $0.54 on Friday. Processa Pharmaceuticals has a 1 year low of $0.47 and a 1 year high of $3.31. The stock has a market cap of $1.76 million, a PE ratio of -0.16 and a beta of 0.56. The firm has a fifty day moving average price of $0.73 and a 200 day moving average price of $1.07.

Analyst Upgrades and Downgrades

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

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.