Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Up 103.8% in January

Edesa Biotech, Inc. (NASDAQ:EDSA) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 28,454 shares, an increase of 103.8% from the January 15th total of 13,960 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 85,292 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 85,292 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.4% of the company’s shares are short sold.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Edesa Biotech in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Edesa Biotech Trading Down 7.0%

NASDAQ EDSA opened at $1.00 on Friday. The company has a market cap of $8.29 million, a P/E ratio of -0.74 and a beta of 0.21. The company has a fifty day simple moving average of $1.42 and a 200 day simple moving average of $1.95. Edesa Biotech has a 12-month low of $0.94 and a 12-month high of $4.49.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings data on Friday, December 12th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.80. The business had revenue of $0.25 million during the quarter. Sell-side analysts predict that Edesa Biotech will post -1.75 EPS for the current year.

Institutional Trading of Edesa Biotech

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

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.