Edesa Biotech (NASDAQ:EDSA) Issues Quarterly Earnings Results

Edesa Biotech (NASDAQ:EDSA) issued its earnings results on Friday. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28), FiscalAI reports. The business had revenue of $0.10 million for the quarter.

Edesa Biotech Stock Performance

NASDAQ:EDSA traded up $0.03 during mid-day trading on Friday, hitting $1.02. 55,174 shares of the company’s stock traded hands, compared to its average volume of 84,388. The company has a fifty day moving average of $1.42 and a 200 day moving average of $1.95. Edesa Biotech has a twelve month low of $0.94 and a twelve month high of $2.96. The company has a market capitalization of $8.50 million, a P/E ratio of -0.76 and a beta of 0.21.

Hedge Funds Weigh In On Edesa Biotech

Several hedge funds and other institutional investors have recently modified their holdings of EDSA. State Street Corp acquired a new stake in Edesa Biotech in the 4th quarter worth approximately $27,000. DRW Securities LLC purchased a new position in shares of Edesa Biotech in the fourth quarter worth $191,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Edesa Biotech during the third quarter worth $36,000. 5.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EDSA. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Edesa Biotech in a research note on Monday, November 3rd. Weiss Ratings reissued 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.