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

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

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.00.

Edesa Biotech Stock Performance

Shares of NASDAQ:EDSA opened at $8.19 on Friday. The company has a fifty day moving average of $9.40 and a 200-day moving average of $5.23. The company has a market capitalization of $72.81 million, a PE ratio of -6.11 and a beta of 1.03. Edesa Biotech has a 52-week low of $0.72 and a 52-week high of $20.32.

Edesa Biotech (NASDAQ:EDSA) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). On average, equities analysts forecast that Edesa Biotech will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Edesa Biotech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in Edesa Biotech in the 3rd quarter valued at approximately $36,000. State Street Corp acquired a new position in shares of Edesa Biotech during the fourth quarter worth $27,000. Diadema Partners LP acquired a new position in shares of Edesa Biotech during the fourth quarter worth $77,000. DRW Securities LLC bought a new stake in shares of Edesa Biotech in the fourth quarter worth $191,000. Finally, Perceptive Advisors LLC bought a new stake in shares of Edesa Biotech in the first quarter worth $2,946,000. 5.50% of the stock is currently owned by institutional investors and hedge funds.

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.