625,000 Shares in Edesa Biotech, Inc. $EDSA Acquired by Nantahala Capital Management LLC

Nantahala Capital Management LLC acquired a new stake in Edesa Biotech, Inc. (NASDAQ:EDSA) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 625,000 shares of the company’s stock, valued at approximately $1,525,000. Nantahala Capital Management LLC owned about 0.09% of Edesa Biotech as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of EDSA. Two Sigma Securities LLC acquired a new stake in Edesa Biotech in the fourth quarter valued at approximately $26,000. Citadel Advisors LLC acquired a new stake in Edesa Biotech in the fourth quarter valued at approximately $70,000. Stonepine Capital Management LLC acquired a new stake in Edesa Biotech in the first quarter valued at approximately $1,678,000. Finally, Velan Capital Investment Management LP acquired a new stake in Edesa Biotech in the first quarter valued at approximately $1,678,000. Institutional investors and hedge funds own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised shares of Edesa Biotech to a “strong-buy” rating and set a $5.00 price objective for the company in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Edesa Biotech presently has a consensus rating of “Strong Buy” and an average price target of $5.00.

Edesa Biotech Price Performance

EDSA opened at $2.36 on Monday. The stock has a market capitalization of $16.61 million, a PE ratio of -1.79 and a beta of 0.10. The firm’s fifty day moving average price is $2.22 and its 200 day moving average price is $2.23. Edesa Biotech, Inc. has a 12-month low of $1.55 and a 12-month high of $5.00.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. On average, equities research analysts forecast that Edesa Biotech, Inc. will post -1.75 earnings per share for the current fiscal year.

About Edesa Biotech

Edesa Biotech, Inc, a clinical-stage biopharmaceutical company, engages in the research and development, manufacture, and commercialization of pharmaceutical products for inflammatory and immune-related diseases. Its lead product candidates are EB05, a monoclonal antibody, which is in Phase 3 clinical study for the treatment of acute respiratory distress syndrome in Covid-19 patients; and EB01, a topical vanishing cream containing non-steroidal anti-inflammatory compound that has completed Phase 2b clinical study to treat chronic allergic contact dermatitis.