Edesa Biotech (NASDAQ:EDSA) Announces Earnings Results, Misses Expectations By $0.16 EPS

Edesa Biotech (NASDAQ:EDSA) released its quarterly earnings results on Thursday. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.16), FiscalAI reports.

Edesa Biotech Trading Down 1.5%

EDSA stock traded down $0.08 during midday trading on Friday, hitting $5.35. The company had a trading volume of 45,953 shares, compared to its average volume of 57,315. Edesa Biotech has a 52 week low of $0.72 and a 52 week high of $20.32. The stock has a market cap of $51.54 million, a price-to-earnings ratio of -3.17 and a beta of 1.08. The stock’s 50 day moving average price is $6.29 and its 200 day moving average price is $6.37.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EDSA shares. Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Edesa Biotech from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Brookline Capital Markets upgraded shares of Edesa Biotech to a “strong-buy” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Hedge Funds Weigh In On Edesa Biotech

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

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.