Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Short Interest Update

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 68,400 shares, a decline of 51.9% from the June 15th total of 142,200 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,360,000 shares, the short-interest ratio is presently 0.1 days.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Processa Pharmaceuticals in a report on Wednesday, June 12th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust purchased a new position in shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned approximately 6.25% of Processa Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 91.93% of the stock is currently owned by institutional investors.

Processa Pharmaceuticals Stock Up 5.9 %

NASDAQ PCSA traded up $0.10 during trading hours on Friday, hitting $1.80. 35,133 shares of the company were exchanged, compared to its average volume of 1,429,435. The company has a 50 day moving average of $1.88 and a two-hundred day moving average of $2.69. The firm has a market cap of $5.15 million, a price-to-earnings ratio of -0.36 and a beta of 0.60. Processa Pharmaceuticals has a 52-week low of $1.40 and a 52-week high of $18.00.

Processa Pharmaceuticals (NASDAQ:PCSA) last posted its earnings results on Friday, May 10th. The company reported ($1.11) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.07. On average, equities research analysts predict that Processa Pharmaceuticals will post -3.9 EPS for the current year.

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.