Short Interest in Edesa Biotech, Inc. (NASDAQ:EDSA) Decreases By 47.0%

Edesa Biotech, Inc. (NASDAQ:EDSA) was the recipient of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 15,086 shares, a drop of 47.0% from the January 29th total of 28,454 shares. Based on an average trading volume of 140,923 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 140,923 shares, the days-to-cover ratio is presently 0.1 days.

Edesa Biotech Trading Up 41.9%

NASDAQ EDSA traded up $0.65 during trading on Friday, reaching $2.20. The company’s stock had a trading volume of 42,948,766 shares, compared to its average volume of 5,924,315. The stock has a market capitalization of $18.37 million, a PE ratio of -1.91 and a beta of 0.21. Edesa Biotech has a 1-year low of $0.72 and a 1-year high of $2.95. The business has a 50-day moving average price of $1.32 and a 200-day moving average price of $1.87.

Edesa Biotech (NASDAQ:EDSA) last announced its quarterly earnings results on Friday, February 13th. The company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). The business had revenue of $0.10 million for the quarter. As a group, analysts expect that Edesa Biotech will post -1.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EDSA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.00.

Institutional Trading of Edesa Biotech

Several large investors have recently made changes to their positions in EDSA. DRW Securities LLC acquired a new position in Edesa Biotech during the 4th quarter valued at $191,000. Diadema Partners LP bought a new position in shares of Edesa Biotech during the 4th quarter worth about $77,000. State Street Corp bought a new position in shares of Edesa Biotech during the 4th quarter worth about $27,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Edesa Biotech during the third quarter valued at about $36,000. Institutional investors 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.