Edesa Biotech (NASDAQ:EDSA) Rating Increased to Hold at Wall Street Zen

Edesa Biotech (NASDAQ:EDSA) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Edesa Biotech has an average rating of “Hold” and an average price target of $5.00.

Edesa Biotech Price Performance

Shares of NASDAQ:EDSA opened at $6.14 on Friday. The company has a market cap of $51.27 million, a PE ratio of -5.34 and a beta of -0.68. Edesa Biotech has a fifty-two week low of $0.72 and a fifty-two week high of $9.37. The company’s 50-day moving average price is $3.59 and its 200 day moving average price is $2.50.

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

Insiders Place Their Bets

In other Edesa Biotech news, CEO Pardeep Nijhawan bought 30,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $2.22 per share, for a total transaction of $66,600.00. Following the acquisition, the chief executive officer directly owned 371,702 shares of the company’s stock, valued at approximately $825,178.44. This trade represents a 8.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 73,571 shares of company stock worth $184,142. Insiders own 22.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EDSA. DRW Securities LLC acquired a new position in Edesa Biotech in the 4th quarter valued at approximately $191,000. Diadema Partners LP acquired a new stake in shares of Edesa Biotech during the 4th quarter valued at $77,000. State Street Corp purchased a new position in shares of Edesa Biotech during the 4th quarter valued at $27,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Edesa Biotech in the third quarter worth $36,000. 5.50% of the stock is owned by hedge funds and other institutional investors.

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.