Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Down 49.9% in January

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totaling 13,960 shares, a decrease of 49.9% from the December 31st total of 27,859 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 26,349 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 26,349 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are short sold.

Edesa Biotech Price Performance

EDSA traded down $0.06 during midday trading on Friday, hitting $1.17. 272,726 shares of the company’s stock traded hands, compared to its average volume of 56,401. Edesa Biotech has a one year low of $1.09 and a one year high of $4.49. The stock’s fifty day simple moving average is $1.54 and its 200-day simple moving average is $2.03. The company has a market cap of $9.75 million, a PE ratio of -0.87 and a beta of 0.13.

Edesa Biotech (NASDAQ:EDSA) last issued its quarterly earnings results on Friday, December 12th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.80. The firm had revenue of $0.25 million for the quarter. On average, research analysts expect that Edesa Biotech will post -1.75 EPS for the current year.

Hedge Funds Weigh In On 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) in the third quarter, according to the company in its most recent disclosure 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 at the end of the most recent quarter. Institutional investors and hedge funds own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EDSA. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Edesa Biotech in a report on Monday, November 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a report on Monday, December 29th. One 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 has a consensus rating of “Hold” and a consensus target price 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.