Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Down 31.8% in December

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 34,823 shares, a drop of 31.8% from the November 30th total of 51,065 shares. Based on an average daily volume of 41,116 shares, the short-interest ratio is currently 0.8 days. Currently, 0.5% of the company’s shares are sold short. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 41,116 shares, the short-interest ratio is currently 0.8 days.

Edesa Biotech Stock Performance

Shares of NASDAQ EDSA traded down $0.07 during trading hours on Monday, reaching $1.38. 57,837 shares of the stock were exchanged, compared to its average volume of 579,210. Edesa Biotech has a 52 week low of $1.28 and a 52 week high of $4.49. The firm has a market capitalization of $11.45 million, a price-to-earnings ratio of -1.02 and a beta of 0.08. The stock’s fifty day simple moving average is $1.80 and its 200 day simple moving average is $2.13.

Edesa Biotech (NASDAQ:EDSA) last announced its quarterly earnings data on Friday, December 12th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.80. The firm had revenue of $0.25 million for the quarter. Research analysts predict that Edesa Biotech will post -1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Edesa Biotech in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Edesa Biotech has a consensus rating of “Hold” and a consensus target price of $5.00.

Hedge Funds Weigh In On Edesa Biotech

A hedge fund recently bought a new stake in Edesa Biotech stock. Susquehanna International Group LLP purchased a new position in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 14,610 shares of the company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned 0.21% of Edesa Biotech as of its most recent filing with the SEC. Institutional investors own 5.50% of the company’s stock.

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.