Edesa Biotech (NASDAQ:EDSA) Trading Down 7.3% – Time to Sell?

Shares of Edesa Biotech, Inc. (NASDAQ:EDSA) traded down 7.3% on Monday . The company traded as low as $6.70 and last traded at $6.81. 127,334 shares changed hands during trading, a decline of 52% from the average session volume of 263,436 shares. The stock had previously closed at $7.35.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen downgraded Edesa Biotech from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.00.

Edesa Biotech Stock Performance

The stock’s 50-day moving average price is $9.26 and its 200-day moving average price is $5.12. The company has a market capitalization of $70.68 million, a price-to-earnings ratio of -5.93 and a beta of 1.03.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). Analysts anticipate that Edesa Biotech, Inc. will post -1.57 earnings per share for the current year.

Institutional Trading of Edesa Biotech

Several large investors have recently bought and sold shares of the company. State Street Corp acquired a new position in shares of Edesa Biotech during the 4th quarter worth $27,000. Susquehanna International Group LLP acquired a new stake in Edesa Biotech in the 3rd quarter valued at about $36,000. Diadema Partners LP acquired a new stake in Edesa Biotech in the 4th quarter valued at about $77,000. DRW Securities LLC purchased a new position in Edesa Biotech during the 4th quarter valued at about $191,000. Finally, Perceptive Advisors LLC purchased a new position in Edesa Biotech during the 1st quarter valued at about $2,946,000. Institutional investors and hedge funds own 5.50% of the company’s stock.

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.