Short Interest in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Drops By 24.9%

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 73,100 shares, a decrease of 24.9% from the October 31st total of 97,400 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average trading volume of 64,800 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Processa Pharmaceuticals in a report on Thursday, October 3rd.

Processa Pharmaceuticals Stock Performance

Shares of NASDAQ PCSA traded up $0.18 during midday trading on Friday, reaching $1.16. 55,754 shares of the company’s stock were exchanged, compared to its average volume of 25,873. Processa Pharmaceuticals has a 52-week low of $0.85 and a 52-week high of $17.40. The business’s fifty day moving average price is $1.19 and its two-hundred day moving average price is $1.50. The stock has a market capitalization of $3.78 million, a PE ratio of -0.34 and a beta of 0.60.

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.