Short Interest in Edesa Biotech, Inc. (NASDAQ:EDSA) Drops By 49.9%

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a large drop in short interest in January. As of January 15th, there was short interest totaling 13,960 shares, a drop of 49.9% from the December 31st total of 27,859 shares. Based on an average daily volume of 26,349 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the shares of the stock are short sold. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 26,349 shares, the days-to-cover ratio is presently 0.5 days.

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 stake in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EDSA shares. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Edesa Biotech in a research report on Monday, November 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a report 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.00.

Edesa Biotech Price Performance

Shares of Edesa Biotech stock traded down $0.06 on Friday, hitting $1.17. The company had a trading volume of 272,728 shares, compared to its average volume of 42,806. Edesa Biotech has a 52 week low of $1.09 and a 52 week high of $4.49. The business has a 50-day simple moving average of $1.53 and a 200-day simple moving average of $2.03. The company has a market cap of $9.75 million, a PE ratio of -0.87 and a beta of 0.13.

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

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.