Edesa Biotech, Inc. (NASDAQ:EDSA) Sees Large Decline in Short Interest

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 34,823 shares, a decrease of 31.8% from the November 30th total of 51,065 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 41,116 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 41,116 shares, the short-interest ratio is presently 0.8 days. Approximately 0.5% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EDSA shares. Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a report on Monday, December 22nd. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Edesa Biotech in a research note on Monday, November 3rd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Edesa Biotech stock. Susquehanna International Group LLP acquired a new stake in Edesa Biotech, Inc. (NASDAQ:EDSA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,610 shares of the company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned 0.21% of Edesa Biotech at the end of the most recent reporting period. 5.50% of the stock is owned by hedge funds and other institutional investors.

Edesa Biotech Stock Down 4.5%

Edesa Biotech stock traded down $0.07 during mid-day trading on Monday, hitting $1.38. 57,837 shares of the company were exchanged, compared to its average volume of 579,210. The company has a market capitalization of $11.45 million, a PE ratio of -1.02 and a beta of 0.08. The business has a fifty day moving average of $1.80 and a 200 day moving average of $2.13. Edesa Biotech has a 1-year low of $1.28 and a 1-year high of $4.49.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings data on Friday, December 12th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.80. The firm had revenue of $0.25 million for the quarter. Research analysts expect that Edesa Biotech will post -1.75 earnings per share for the current year.

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.