Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Short Interest Down 24.9% in November

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 73,100 shares, a drop of 24.9% from the October 31st total of 97,400 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily volume of 64,800 shares, the short-interest ratio is currently 1.1 days.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Processa Pharmaceuticals in a research report on Thursday, October 3rd.

Processa Pharmaceuticals Trading Up 17.9 %

Shares of PCSA traded up $0.18 during mid-day trading on Friday, reaching $1.16. The company’s stock had a trading volume of 55,754 shares, compared to its average volume of 25,873. Processa Pharmaceuticals has a 52 week low of $0.85 and a 52 week high of $17.40. The company’s fifty day moving average price is $1.19 and its two-hundred day moving average price is $1.50. The stock has a market cap of $3.78 million, a PE ratio of -0.34 and a beta of 0.60.

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.