Edesa Biotech (NASDAQ:EDSA) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Edesa Biotech (NASDAQ:EDSA) to a sell rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a research report on Monday, December 29th. 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.com, the company presently has an average rating of “Hold” and a consensus price target of $5.00.

Edesa Biotech Price Performance

NASDAQ:EDSA opened at $5.82 on Friday. The company has a market cap of $48.60 million, a price-to-earnings ratio of -5.06 and a beta of 0.05. Edesa Biotech has a 1 year low of $0.72 and a 1 year high of $9.37. The stock’s 50 day simple moving average is $3.17 and its two-hundred day simple moving average is $2.39.

Edesa Biotech (NASDAQ:EDSA) last posted its earnings results on Friday, February 13th. The company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). The firm had revenue of $0.11 million for the quarter. As a group, analysts anticipate that Edesa Biotech will post -1.75 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Pardeep Nijhawan acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were acquired at an average cost of $3.90 per share, for a total transaction of $39,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 73,571 shares of company stock worth $184,142 over the last quarter. Insiders own 22.60% of the company’s stock.

Hedge Funds Weigh In On Edesa Biotech

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

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.