Edesa Biotech (NASDAQ:EDSA) Upgraded to Sell at Wall Street Zen

Edesa Biotech (NASDAQ:EDSA) was upgraded by investment analysts at Wall Street Zen to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Edesa Biotech has a consensus rating of “Hold” and an average target price of $5.00.

Edesa Biotech Price Performance

EDSA stock opened at $5.82 on Friday. The business has a fifty day moving average price of $3.17 and a 200 day moving average price of $2.39. Edesa Biotech has a fifty-two week low of $0.72 and a fifty-two week high of $9.37. The stock has a market capitalization of $48.60 million, a price-to-earnings ratio of -5.06 and a beta of 0.05.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings data on Friday, February 13th. The company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). The business had revenue of $0.11 million during the quarter. On average, equities analysts expect that Edesa Biotech will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at Edesa Biotech

In other news, CEO Pardeep Nijhawan acquired 30,000 shares of Edesa Biotech stock in a transaction on Friday, February 27th. The shares were purchased at an average price of $2.22 per share, with a total value of $66,600.00. Following the acquisition, the chief executive officer owned 371,702 shares in the company, valued at $825,178.44. This represents a 8.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders acquired 73,571 shares of company stock worth $184,142. 22.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edesa Biotech

Several hedge funds and other institutional investors have recently made changes to their positions in EDSA. DRW Securities LLC acquired a new position in shares of Edesa Biotech during the fourth quarter valued at $191,000. Diadema Partners LP acquired a new stake in Edesa Biotech in the fourth quarter worth about $77,000. State Street Corp acquired a new stake in Edesa Biotech in the fourth quarter worth about $27,000. Finally, Susquehanna International Group LLP bought a new stake in Edesa Biotech during the 3rd quarter worth about $36,000. 5.50% of the stock is 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.