Short Interest in Heatwurx Inc. (NASDAQ:PCSA) Increases By 56.8%

Heatwurx Inc. (NASDAQ:PCSA) saw a significant growth in short interest in August. As of August 15th, there was short interest totaling 1,740,000 shares, agrowthof56.8% from the July 31st total of 1,110,000 shares. Based on an average daily volume of 18,810,000 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 18,810,000 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCSA. HC Wainwright decreased their price objective on Heatwurx from $2.00 to $1.00 and set a “buy” rating on the stock in a research note on Tuesday, September 2nd. Zacks Research cut Heatwurx from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1.00.

Heatwurx Price Performance

Heatwurx stock traded up $0.01 during midday trading on Monday, reaching $0.18. The stock had a trading volume of 1,029,309 shares, compared to its average volume of 8,305,766. Heatwurx has a twelve month low of $0.15 and a twelve month high of $1.50. The firm’s fifty day simple moving average is $0.21 and its two-hundred day simple moving average is $0.29. The firm has a market cap of $8.96 million, a price-to-earnings ratio of -0.08 and a beta of 1.36.

Heatwurx (NASDAQ:PCSA) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). As a group, sell-side analysts predict that Heatwurx will post -4.05 EPS for the current fiscal year.

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.