Short Interest in Heatwurx Inc. (NASDAQ:PCSA) Drops By 97.2%

Heatwurx Inc. (NASDAQ:PCSA) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 98,000 shares, a decline of 97.2% from the December 15th total of 3,454,719 shares. Approximately 4.4% of the shares of the company are short sold. Based on an average daily trading volume, of 4,086,107 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 4,086,107 shares, the days-to-cover ratio is currently 0.0 days. Approximately 4.4% of the shares of the company are short sold.

Heatwurx Stock Performance

NASDAQ PCSA traded down $0.22 during trading hours on Monday, hitting $3.14. The company had a trading volume of 65,442 shares, compared to its average volume of 2,326,388. The firm has a market capitalization of $7.13 million, a price-to-earnings ratio of -0.09 and a beta of 1.13. Heatwurx has a 52 week low of $2.74 and a 52 week high of $22.80. The firm has a 50 day simple moving average of $5.62 and a 200 day simple moving average of $5.92.

Heatwurx (NASDAQ:PCSA) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($1.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.25. On average, research analysts forecast that Heatwurx will post -4.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Heatwurx from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heatwurx in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.00.

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.