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

Perceptive Advisors LLC bought a new stake in Edesa Biotech, Inc. (NASDAQ:EDSA) during the first quarter, Holdings Channel.com reports. The institutional investor bought 563,239 shares of the company’s stock, valued at approximately $2,946,000. Perceptive Advisors LLC owned approximately 0.06% of Edesa Biotech at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp purchased a new stake in shares of Edesa Biotech in the 4th quarter valued at approximately $27,000. Susquehanna International Group LLP acquired a new position in shares of Edesa Biotech in the 3rd quarter worth approximately $36,000. Diadema Partners LP acquired a new position in shares of Edesa Biotech in the 4th quarter worth approximately $77,000. Finally, DRW Securities LLC purchased a new stake in Edesa Biotech in the fourth quarter valued at approximately $191,000. Hedge funds and other institutional investors own 5.50% of the company’s stock.

Edesa Biotech Stock Performance

Shares of EDSA stock opened at $5.11 on Friday. The stock has a market capitalization of $49.21 million, a P/E ratio of -3.81 and a beta of 1.03. The company has a 50 day moving average price of $6.75 and a 200 day moving average price of $6.10. Edesa Biotech, Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $20.32.

Edesa Biotech (NASDAQ:EDSA) last announced its earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.25). On average, research analysts forecast that Edesa Biotech, Inc. will post -1.66 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Edesa Biotech

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.