Pardeep Nijhawan Purchases 10,000 Shares of Edesa Biotech (NASDAQ:EDSA) Stock

Edesa Biotech, Inc. (NASDAQ:EDSA) CEO Pardeep Nijhawan acquired 10,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average cost of $3.63 per share, with a total value of $36,300.00. Following the completion of the purchase, the chief executive officer directly owned 392,702 shares in the company, valued at approximately $1,425,508.26. This represents a 2.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Pardeep Nijhawan also recently made the following trade(s):

• On Friday, February 27th, Pardeep Nijhawan bought 30,000 shares of Edesa Biotech stock. The shares were acquired at an average price of $2.22 per share, for a total transaction of $66,600.00.
• On Thursday, February 26th, Pardeep Nijhawan purchased 20,571 shares of Edesa Biotech stock. The stock was bought at an average price of $1.58 per share, with a total value of $32,502.18.

Edesa Biotech Price Performance

Shares of NASDAQ EDSA opened at $3.61 on Friday. Edesa Biotech, Inc. has a 1-year low of $0.72 and a 1-year high of $5.40. The business’s 50 day moving average is $1.50 and its two-hundred day moving average is $1.91. The stock has a market capitalization of $30.14 million, a P/E ratio of -3.14 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) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.28). The company had revenue of $0.10 million during the quarter. As a group, equities research analysts anticipate that Edesa Biotech, Inc. will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edesa Biotech

Several hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna International Group LLP bought a new stake in shares of Edesa Biotech during the 3rd quarter worth approximately $36,000. Diadema Partners LP bought a new position in Edesa Biotech in the 4th quarter valued at $77,000. DRW Securities LLC purchased a new stake in Edesa Biotech in the fourth quarter worth $191,000. Finally, State Street Corp bought a new stake in shares of Edesa Biotech during the fourth quarter worth $27,000. 5.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Edesa Biotech presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Edesa Biotech Company Profile

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.