Edesa Biotech (NASDAQ:EDSA) Raised to “Sell” at Wall Street Zen

Edesa Biotech (NASDAQ:EDSA) was upgraded by analysts at Wall Street Zen to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.00.

Edesa Biotech Price Performance

EDSA opened at $5.82 on Friday. The firm has a 50 day simple moving average of $3.17 and a 200 day simple moving average of $2.39. Edesa Biotech has a fifty-two week low of $0.72 and a fifty-two week high of $9.37. The company has a market cap of $48.60 million, a price-to-earnings ratio of -5.06 and a beta of 0.05.

Edesa Biotech (NASDAQ:EDSA) last announced its quarterly earnings data on Friday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). The business had revenue of $0.11 million during the quarter. As a group, analysts expect that Edesa Biotech will post -1.75 EPS for the current year.

Insider Activity at Edesa Biotech

In other news, CEO Pardeep Nijhawan purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average cost of $3.90 per share, for a total transaction of $39,000.00. Following the transaction, the chief executive officer directly owned 402,702 shares of the company’s stock, valued at approximately $1,570,537.80. The trade was a 2.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 73,571 shares of company stock valued at $184,142. Corporate insiders own 22.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EDSA. State Street Corp bought a new stake in Edesa Biotech in the fourth quarter valued at approximately $27,000. Susquehanna International Group LLP bought a new position in shares of Edesa Biotech during the third quarter worth $36,000. Diadema Partners LP bought a new position in shares of Edesa Biotech during the fourth quarter worth $77,000. Finally, DRW Securities LLC acquired a new position in shares of Edesa Biotech in the 4th quarter valued at $191,000. Institutional investors and hedge funds own 5.50% of the company’s stock.

About Edesa Biotech

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.