Edesa Biotech (NASDAQ:EDSA) Announces Earnings Results

Edesa Biotech (NASDAQ:EDSA) posted its quarterly earnings data on Thursday. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.16), FiscalAI reports.

Edesa Biotech Price Performance

Shares of Edesa Biotech stock traded up $0.13 during trading on Thursday, hitting $5.43. 35,081 shares of the company were exchanged, compared to its average volume of 58,385. The firm has a market capitalization of $52.29 million, a P/E ratio of -4.05 and a beta of 1.08. Edesa Biotech has a 1-year low of $0.72 and a 1-year high of $20.32. The firm’s fifty day moving average price is $6.29 and its 200 day moving average price is $6.38.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of Edesa Biotech from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Brookline Capital Markets raised shares of Edesa Biotech to a “strong-buy” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.