Heatwurx Inc. (NASDAQ:PCSA) Short Interest Update

Heatwurx Inc. (NASDAQ:PCSA) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 57,548 shares, a growth of 45.7% from the March 15th total of 39,505 shares. Based on an average daily trading volume, of 44,079 shares, the short-interest ratio is presently 1.3 days. Currently, 2.2% of the shares of the company are sold short.

Heatwurx Price Performance

NASDAQ:PCSA remained flat at $2.87 during mid-day trading on Tuesday. 20,304 shares of the company were exchanged, compared to its average volume of 59,937. The stock has a market cap of $7.63 million, a price-to-earnings ratio of -0.08 and a beta of 0.89. Heatwurx has a 1 year low of $1.76 and a 1 year high of $19.64. The firm’s fifty day moving average price is $2.54 and its 200 day moving average price is $4.72.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PCSA shares. Wall Street Zen downgraded shares of Heatwurx from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Heatwurx in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.00.

About Heatwurx

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.