Short Interest in Edesa Biotech, Inc. (NASDAQ:EDSA) Grows By 4,942.0%

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 852,100 shares, an increase of 4,942.0% from the January 31st total of 16,900 shares. Based on an average trading volume of 1,830,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 15.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Edesa Biotech

A hedge fund recently bought a new stake in Edesa Biotech stock. Citadel Advisors LLC acquired a new stake in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 40,944 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned about 1.18% of Edesa Biotech as of its most recent SEC filing. 5.50% of the stock is currently owned by hedge funds and other institutional investors.

Edesa Biotech Stock Up 2.3 %

NASDAQ EDSA opened at $2.19 on Friday. Edesa Biotech has a twelve month low of $1.55 and a twelve month high of $5.59. The business has a 50-day moving average price of $1.99 and a 200-day moving average price of $2.94. The firm has a market cap of $15.19 million, a price-to-earnings ratio of -1.17 and a beta of 0.85.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings results on Friday, February 14th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). During the same period in the prior year, the firm earned ($0.54) earnings per share. Research analysts expect that Edesa Biotech will post -1.75 EPS for the current fiscal year.

Edesa Biotech Company Profile

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.