Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Sees Large Decrease in Short Interest

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 95,300 shares, a decrease of 28.5% from the February 28th total of 133,200 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily volume of 218,700 shares, the short-interest ratio is presently 0.4 days.

Processa Pharmaceuticals Stock Performance

PCSA traded up $0.04 on Tuesday, hitting $0.41. The company had a trading volume of 878,362 shares, compared to its average volume of 766,538. The stock has a market capitalization of $2.17 million, a price-to-earnings ratio of -0.12 and a beta of 0.75. The stock has a fifty day moving average price of $0.54 and a 200-day moving average price of $0.91. Processa Pharmaceuticals has a 12-month low of $0.36 and a 12-month high of $3.31.

Processa Pharmaceuticals (NASDAQ:PCSA) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.18. Analysts forecast that Processa Pharmaceuticals will post -4.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Processa Pharmaceuticals in a research report on Thursday, December 5th.

Insider Activity at Processa Pharmaceuticals

In other Processa Pharmaceuticals news, insider David Young purchased 124,500 shares of Processa Pharmaceuticals stock in a transaction dated Monday, January 27th. The shares were purchased at an average cost of $0.80 per share, for a total transaction of $99,600.00. Following the completion of the acquisition, the insider now owns 205,405 shares in the company, valued at $164,324. This represents a 153.88 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO George K. Ng acquired 87,200 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of $0.80 per share, with a total value of $69,760.00. Following the acquisition, the chief executive officer now owns 87,200 shares in the company, valued at $69,760. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 224,100 shares of company stock worth $179,280. Insiders own 13.00% of the company’s stock.

About Processa Pharmaceuticals

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.