Edesa Biotech (NASDAQ:EDSA) CEO Acquires $66,600.00 in Stock

Edesa Biotech, Inc. (NASDAQ:EDSA) CEO Pardeep Nijhawan purchased 30,000 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $2.22 per share, with a total value of $66,600.00. Following the completion of the acquisition, the chief executive officer directly owned 371,702 shares in the company, valued at $825,178.44. The trade was a 8.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Pardeep Nijhawan also recently made the following trade(s):

• On Tuesday, March 3rd, Pardeep Nijhawan acquired 10,000 shares of Edesa Biotech stock. The stock was acquired at an average price of $3.63 per share, for a total transaction of $36,300.00.
• On Thursday, February 26th, Pardeep Nijhawan bought 20,571 shares of Edesa Biotech stock. The shares were acquired at an average cost of $1.58 per share, for a total transaction of $32,502.18.

Edesa Biotech Stock Down 1.8%

EDSA stock opened at $4.27 on Thursday. The business has a 50 day moving average price of $1.46 and a 200 day moving average price of $1.90. The stock has a market cap of $35.65 million, a price-to-earnings ratio of -3.71 and a beta of 0.05. Edesa Biotech, Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $5.40.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. DRW Securities LLC acquired a new stake in shares of Edesa Biotech during the fourth quarter worth about $191,000. Diadema Partners LP acquired a new position in Edesa Biotech in the 4th quarter valued at about $77,000. State Street Corp purchased a new stake in Edesa Biotech during the 4th quarter valued at approximately $27,000. Finally, Susquehanna International Group LLP acquired a new stake in Edesa Biotech during the 3rd quarter worth approximately $36,000. 5.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company 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.