Edesa Biotech (NASDAQ:EDSA) CEO Pardeep Nijhawan Acquires 10,000 Shares of Stock

Edesa Biotech, Inc. (NASDAQ:EDSA) CEO Pardeep Nijhawan purchased 10,000 shares of Edesa Biotech stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average cost of $3.90 per share, for a total transaction of $39,000.00. Following the transaction, the chief executive officer directly owned 402,702 shares of the company’s stock, valued at $1,570,537.80. This represents a 2.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Pardeep Nijhawan also recently made the following trade(s):

• On Tuesday, March 3rd, Pardeep Nijhawan purchased 10,000 shares of Edesa Biotech stock. The shares were purchased at an average price of $3.63 per share, for a total transaction of $36,300.00.
• On Friday, February 27th, Pardeep Nijhawan bought 30,000 shares of Edesa Biotech stock. The stock was acquired at an average cost of $2.22 per share, for a total transaction of $66,600.00.
• On Thursday, February 26th, Pardeep Nijhawan acquired 20,571 shares of Edesa Biotech stock. The shares were acquired at an average price of $1.58 per share, with a total value of $32,502.18.

Edesa Biotech Trading Up 80.6%

Edesa Biotech stock traded up $2.91 during midday trading on Friday, reaching $6.52. The company’s stock had a trading volume of 31,861,352 shares, compared to its average volume of 5,376,290. Edesa Biotech, Inc. has a 52 week low of $0.72 and a 52 week high of $7.43. The business has a 50-day moving average price of $1.50 and a 200-day moving average price of $1.91. The stock has a market cap of $54.44 million, a PE ratio of -5.67 and a beta of 0.05.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings data on Friday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.28). The firm had revenue of $0.10 million during the quarter. As a group, research analysts predict that Edesa Biotech, Inc. will post -1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Edesa Biotech presently has a consensus rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On Edesa Biotech

A number of institutional investors and hedge funds have recently modified their holdings of the company. Diadema Partners LP bought a new position in shares of Edesa Biotech during the 4th quarter valued at approximately $77,000. State Street Corp purchased a new position in Edesa Biotech during the fourth quarter valued at approximately $27,000. DRW Securities LLC bought a new position in shares of Edesa Biotech in the fourth quarter worth approximately $191,000. Finally, Susquehanna International Group LLP bought a new position in shares of Edesa Biotech in the third quarter worth approximately $36,000. 5.50% of the stock is currently owned by hedge funds and other institutional investors.

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.