Pardeep Nijhawan Purchases 20,571 Shares of Edesa Biotech (NASDAQ:EDSA) Stock

Edesa Biotech, Inc. (NASDAQ:EDSA) CEO Pardeep Nijhawan purchased 20,571 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was purchased at an average price of $1.58 per share, with a total value of $32,502.18. Following the purchase, the chief executive officer owned 615,797 shares of the company’s stock, valued at approximately $972,959.26. The trade was a 3.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was purchased at an average cost of $2.22 per share, for a total transaction of $66,600.00.

Edesa Biotech Stock Performance

Edesa Biotech stock opened at $4.35 on Wednesday. The stock has a 50-day simple moving average of $1.40 and a 200 day simple moving average of $1.88. The stock has a market capitalization of $36.32 million, a P/E ratio of -3.78 and a beta of 0.05. Edesa Biotech, Inc. has a 52 week low of $0.72 and a 52 week high of $4.35.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings data on Friday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). The business had revenue of $0.10 million during the quarter. Research analysts forecast that Edesa Biotech, Inc. will post -1.75 earnings per share for the current year.

Hedge Funds Weigh In On Edesa Biotech

A number of large investors have recently made changes to their positions in EDSA. Susquehanna International Group LLP acquired a new stake in Edesa Biotech during the 3rd quarter worth approximately $36,000. Diadema Partners LP acquired a new stake in shares of Edesa Biotech during the fourth quarter worth $77,000. State Street Corp bought a new stake in shares of Edesa Biotech in the fourth quarter valued at about $27,000. Finally, DRW Securities LLC bought a new stake in shares of Edesa Biotech in the fourth quarter valued at about $191,000. Institutional investors own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.