Edesa Biotech, Inc. (NASDAQ:EDSA) Sees Significant Decline in Short Interest

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

Edesa Biotech Stock Down 2.9%

EDSA opened at $1.34 on Thursday. The stock has a market capitalization of $11.16 million, a price-to-earnings ratio of -0.99 and a beta of 0.13. Edesa Biotech has a twelve month low of $1.28 and a twelve month high of $4.49. The company has a 50-day simple moving average of $1.55 and a 200 day simple moving average of $2.04.

Edesa Biotech (NASDAQ:EDSA) last issued its earnings results on Friday, December 12th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.80. The firm had revenue of $0.25 million during the quarter. Sell-side analysts anticipate that Edesa Biotech will post -1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Edesa Biotech in a research note on Monday, November 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Edesa Biotech has a consensus rating of “Hold” and an average price target of $5.00.

Institutional Investors Weigh In On Edesa Biotech

An institutional investor recently bought a new position in Edesa Biotech stock. Susquehanna International Group LLP purchased a new position in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,610 shares of the company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned approximately 0.21% of Edesa Biotech as of its most recent filing with the SEC. 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.