Edesa Biotech (NASDAQ:EDSA) Announces Earnings Results

Edesa Biotech (NASDAQ:EDSA) issued its earnings results on Thursday. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25), FiscalAI reports.

Edesa Biotech Trading Down 4.1%

NASDAQ:EDSA traded down $0.63 during midday trading on Thursday, hitting $14.61. 130,883 shares of the stock were exchanged, compared to its average volume of 1,085,382. Edesa Biotech has a one year low of $0.72 and a one year high of $20.32. The company has a market capitalization of $129.88 million, a price-to-earnings ratio of -12.70 and a beta of 1.26. The business has a 50-day moving average price of $8.35 and a two-hundred day moving average price of $3.95.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EDSA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a report on Friday, March 27th. Wall Street Zen raised Edesa Biotech from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.00.

Insider Buying and Selling

In other news, CEO Pardeep Nijhawan bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were purchased at an average price of $3.90 per share, with a total value of $39,000.00. Following the completion of the acquisition, the chief executive officer directly owned 402,702 shares in the company, valued at approximately $1,570,537.80. This trade represents a 2.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 73,571 shares of company stock worth $184,142 over the last quarter. 24.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Edesa Biotech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new stake in Edesa Biotech during the third quarter worth approximately $36,000. State Street Corp bought a new stake in Edesa Biotech during the fourth quarter worth approximately $27,000. Diadema Partners LP bought a new stake in Edesa Biotech during the fourth quarter worth approximately $77,000. Finally, DRW Securities LLC bought a new stake in Edesa Biotech during the fourth quarter worth approximately $191,000. Institutional investors own 5.50% of the company’s stock.

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.