Processa Pharmaceuticals (NASDAQ:PCSA) Trading Down 6.2%

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) fell 6.2% during mid-day trading on Wednesday . The stock traded as low as $1.80 and last traded at $1.81. 23,146 shares were traded during trading, a decline of 98% from the average session volume of 1,494,981 shares. The stock had previously closed at $1.93.

Analyst Upgrades and Downgrades

PCSA has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Processa Pharmaceuticals in a research report on Wednesday, June 12th. Benchmark reiterated a “speculative buy” rating on shares of Processa Pharmaceuticals in a research note on Wednesday, March 6th.

Processa Pharmaceuticals Stock Down 6.2 %

The company has a market capitalization of $5.18 million, a price-to-earnings ratio of -0.37 and a beta of 0.60. The stock has a 50 day simple moving average of $1.95 and a 200 day simple moving average of $3.03.

Processa Pharmaceuticals (NASDAQ:PCSA) last released its quarterly earnings data on Friday, May 10th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.07. As a group, analysts forecast that Processa Pharmaceuticals, Inc. will post -3.9 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Processa Pharmaceuticals stock. Spinnaker Trust acquired a new position in shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned 6.25% of Processa Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 91.93% of the company’s stock.

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.