Heatwurx Inc. (NASDAQ:PCSA) Short Interest Up 278.1% in March

Heatwurx Inc. (NASDAQ:PCSA) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 39,505 shares, a growth of 278.1% from the February 26th total of 10,448 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 37,680 shares, the days-to-cover ratio is presently 1.0 days.

Heatwurx Trading Down 2.6%

PCSA opened at $2.24 on Friday. The company has a market cap of $5.96 million, a P/E ratio of -0.07 and a beta of 1.05. The company’s 50 day moving average is $2.63 and its 200-day moving average is $4.92. Heatwurx has a 1-year low of $1.76 and a 1-year high of $19.64.

Wall Street Analyst Weigh In

Several research firms have weighed in on PCSA. Wall Street Zen cut Heatwurx from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heatwurx in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.