Edesa Biotech, Inc. (NASDAQ:EDSA) Major Shareholder Der Velden Peter Van Sells 145,129 Shares of Stock

Edesa Biotech, Inc. (NASDAQ:EDSAGet Rating) major shareholder Der Velden Peter Van sold 145,129 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $2.66, for a total value of $386,043.14. Following the completion of the transaction, the insider now directly owns 163,170 shares in the company, valued at $434,032.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Edesa Biotech Price Performance

NASDAQ EDSA opened at $2.50 on Thursday. The company has a market cap of $48.38 million, a price-to-earnings ratio of -2.40 and a beta of 0.58. Edesa Biotech, Inc. has a 52 week low of $0.76 and a 52 week high of $5.98. The business has a 50 day moving average price of $1.31 and a 200-day moving average price of $1.48.

Edesa Biotech (NASDAQ:EDSAGet Rating) last released its quarterly earnings data on Friday, December 16th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.39. On average, equities research analysts anticipate that Edesa Biotech, Inc. will post -1.33 earnings per share for the current year.

Institutional Investors Weigh In On Edesa Biotech

Several hedge funds and other institutional investors have recently modified their holdings of the company. CM Management LLC bought a new stake in shares of Edesa Biotech during the third quarter valued at approximately $230,000. Millennium Management LLC bought a new stake in shares of Edesa Biotech during the second quarter valued at approximately $86,000. Merit Financial Group LLC bought a new stake in Edesa Biotech during the second quarter worth $33,000. Finally, Renaissance Technologies LLC grew its holdings in Edesa Biotech by 150.2% during the first quarter. Renaissance Technologies LLC now owns 82,800 shares of the company’s stock worth $246,000 after buying an additional 49,700 shares in the last quarter. Institutional investors own 9.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Brookline Capital Management reissued a “buy” rating on shares of Edesa Biotech in a research note on Monday, October 3rd.

About Edesa Biotech

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Edesa Biotech, Inc, a biopharmaceutical company, engages in acquiring, developing, and commercializing clinical-stage drugs for inflammatory and immune-related diseases with clear unmet medical needs. Its lead product candidates are EB05, a monoclonal antibody, which is in Phase 3 clinical study for the treatment of acute respiratory distress syndrome in covid-19 patients; and EB01, a topical treatment that is in Phase 2B clinical study for chronic allergic contact dermatitis.

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