Heatwurx Inc. (NASDAQ:PCSA) Short Interest Up 108.4% in July

Heatwurx Inc. (NASDAQ:PCSA) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 215,851 shares, a growth of 108.4% from the July 15th total of 103,554 shares. Currently, 8.1% of the company’s shares are short sold. Based on an average daily trading volume, of 953,671 shares, the short-interest ratio is presently 0.2 days.

Heatwurx Stock Down 2.8%

NASDAQ:PCSA traded down $0.07 on Friday, hitting $2.43. The stock had a trading volume of 49,930 shares, compared to its average volume of 647,212. The stock has a market cap of $6.73 million, a price-to-earnings ratio of -0.26 and a beta of 0.99. The company has a fifty day moving average price of $2.23 and a two-hundred day moving average price of $2.50. Heatwurx has a 1-year low of $1.67 and a 1-year high of $14.24.

Heatwurx (NASDAQ:PCSA) last posted its quarterly earnings results on Friday, August 14th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.19).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heatwurx in a research note on Friday, July 17th. 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 an average rating of “Hold” and a consensus 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.