Processa Pharmaceuticals Inc (NASDAQ: PCSA) stock jumped 3.34% on Friday to $0.43 against a previous-day closing price of $0.42. With 0.5 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.04 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.4520 whereas the lowest price it dropped to was $0.4160. The 52-week range on PCSA shows that it touched its highest point at $2.24 and its lowest point at $0.18 during that stretch. It currently has a 1-year price target of $1.00. Beta for the stock currently stands at 0.19.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PCSA was up-trending over the past week, with a rise of 37.44%, but this was down by -20.39% over a month. Three-month performance surged to 22.48% while six-month performance fell -34.86%. The stock lost -79.23% in the past year, while it has lost -60.92% so far this year. A look at the trailing 12-month EPS for PCSA yields -1.16 with Next year EPS estimates of -0.35. For the next quarter, that number is -0.08. This implies an EPS growth rate of 75.88% for this year and 14.63% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -32.30%.
Float and Shares Shorts:
At present, 24.63 million PCSA shares are outstanding with a float of 18.71 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.21 million, which was 0.85% higher than short shares on Sep 28, 2023. In addition to Dr. David Young Ph.D., Pharm.D. as the firm’s Co-Founder, President of Research and Development & Director, Mr. Patrick Lin serves as its Co-Founder, Chief Business & Strategy Officer.
Through their ownership of 6.53% of PCSA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.58% of PCSA, in contrast to 25.04% held by mutual funds. Shares owned by individuals account for 1.11%. As the largest shareholder in PCSA with 1.70% of the stake, Walleye Capital LLC holds 419,277 shares worth 419,277. A second-largest stockholder of PCSA, The Vanguard Group, Inc., holds 344,425 shares, controlling over 1.40% of the firm’s shares. Citadel Securities LLC is the third largest shareholder in PCSA, holding 166,224 shares or 0.68% stake. With a 0.47% stake in PCSA, the Fidelity Extended Market Index Fu is the largest stakeholder. A total of 116,338 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.26% of PCSA stock, is the second-largest Mutual Fund holder. It holds 63,753 shares valued at 22377.0. Vanguard Total Stock Market ETF holds 0.18% of the stake in PCSA, owning 44,508 shares worth 15622.0.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PCSA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PCSA analysts setting a high price target of $1.00 and a low target of $1.00, the average target price over the next 12 months is $1.00. Based on these targets, PCSA could surge 132.56% to reach the target high and rise by 132.56% to reach the target low. Reaching the average price target will result in a growth of 132.56% from current levels.
Summary of Insider Activity:
Insiders traded PCSA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 222,894 while 0 shares were sold.