Perceptive Advisors LLC Acquires Shares of 563,239 Edesa Biotech, Inc. $EDSA

Perceptive Advisors LLC bought a new position in Edesa Biotech, Inc. (NASDAQ:EDSA) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 563,239 shares of the company’s stock, valued at approximately $2,946,000. Perceptive Advisors LLC owned approximately 6.34% of Edesa Biotech at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts have issued reports on EDSA shares. Brookline Capital Markets upgraded Edesa Biotech to a “strong-buy” rating in a report on Monday, June 29th. Wall Street Zen raised shares of Edesa Biotech from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Edesa Biotech Stock Performance

EDSA stock opened at $5.11 on Friday. The firm has a market cap of $49.21 million, a PE ratio of -3.81 and a beta of 1.03. The firm’s 50 day moving average price is $6.75 and its 200-day moving average price is $6.10. Edesa Biotech, Inc. has a one year low of $0.72 and a one year high of $20.32.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). Equities research analysts predict that Edesa Biotech, Inc. will post -1.66 EPS for the current fiscal year.

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.