Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Update

Edesa Biotech, Inc. (NASDAQ:EDSA) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 13,960 shares, a decline of 49.9% from the December 31st total of 27,859 shares. Based on an average trading volume of 26,349 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the shares of the stock are short sold. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 26,349 shares, the short-interest ratio is currently 0.5 days.

Edesa Biotech Trading Down 2.9%

NASDAQ:EDSA opened at $1.34 on Thursday. The stock’s 50-day moving average is $1.55 and its 200-day moving average is $2.04. Edesa Biotech has a 1-year low of $1.28 and a 1-year high of $4.49. The stock has a market cap of $11.16 million, a P/E ratio of -0.99 and a beta of 0.13.

Edesa Biotech (NASDAQ:EDSA) last posted its earnings results on Friday, December 12th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.80. The business had revenue of $0.25 million for the quarter. As a group, equities analysts forecast that Edesa Biotech will post -1.75 EPS for the current year.

Institutional Investors Weigh In On Edesa Biotech

A hedge fund recently bought a new stake in Edesa Biotech stock. Susquehanna International Group LLP acquired a new position in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,610 shares of the company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned about 0.21% of Edesa Biotech at the end of the most recent reporting period. 5.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EDSA. Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Edesa Biotech in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.00.

Edesa Biotech Company Profile

Edesa Biotech, Inc is a clinical-stage biotechnology company focused on the discovery and development of next-generation vaccines and immunotherapies. The company leverages a proprietary self-amplifying RNA platform to create candidates designed for both intranasal and injectable administration. Edesa’s approach aims to elicit robust mucosal and systemic immune responses, with applications spanning infectious diseases and immuno-oncology.

Among Edesa’s pipeline programs is a lead intranasal vaccine candidate targeting SARS-CoV-2, currently advancing through early-stage clinical trials.