Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Up 103.8% in January

Edesa Biotech, Inc. (NASDAQ:EDSA) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 28,454 shares, a growth of 103.8% from the January 15th total of 13,960 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 85,292 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 85,292 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Edesa Biotech

A number of institutional investors have recently modified their holdings of EDSA. State Street Corp bought a new position in Edesa Biotech during the fourth quarter worth $27,000. DRW Securities LLC acquired a new stake in Edesa Biotech during the 4th quarter worth about $191,000. Finally, Susquehanna International Group LLP bought a new position in shares of Edesa Biotech in the 3rd quarter worth about $36,000. 5.50% of the stock is owned by institutional investors.

Edesa Biotech Trading Up 2.5%

Shares of EDSA opened at $1.02 on Friday. The stock’s 50-day moving average price is $1.40 and its two-hundred day moving average price is $1.94. Edesa Biotech has a 12 month low of $0.94 and a 12 month high of $2.96. The company has a market capitalization of $8.50 million, a PE ratio of -0.89 and a beta of 0.21.

Edesa Biotech (NASDAQ:EDSA) last issued its quarterly earnings data on Friday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.28). The company had revenue of $0.10 million for the quarter. Equities research analysts predict that Edesa Biotech will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EDSA shares. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Edesa Biotech in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Edesa Biotech has a consensus rating of “Hold” and a consensus target price of $5.00.

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.