Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Update

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 852,100 shares, an increase of 4,942.0% from the January 31st total of 16,900 shares. Based on an average daily volume of 1,830,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 15.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Edesa Biotech stock. Two Sigma Securities LLC acquired a new position in Edesa Biotech, Inc. (NASDAQ:EDSA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,313 shares of the company’s stock, valued at approximately $26,000. Two Sigma Securities LLC owned about 0.44% of Edesa Biotech at the end of the most recent quarter. 5.50% of the stock is owned by institutional investors.

Edesa Biotech Stock Performance

Shares of Edesa Biotech stock traded up $0.03 during trading on Thursday, hitting $2.22. 36,649 shares of the stock traded hands, compared to its average volume of 3,115,781. The company has a fifty day moving average price of $1.97 and a two-hundred day moving average price of $2.96. Edesa Biotech has a twelve month low of $1.55 and a twelve month high of $5.59. The stock has a market cap of $15.36 million, a P/E ratio of -1.18 and a beta of 0.85.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings results on Friday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.17). During the same period in the prior year, the company posted ($0.54) earnings per share. On average, equities research analysts expect that Edesa Biotech will post -1.75 EPS for the current fiscal year.

Edesa Biotech Company Profile

Edesa Biotech, Inc, a clinical-stage biopharmaceutical company, engages in the research and development, manufacture, and commercialization of pharmaceutical products for inflammatory and immune-related diseases. Its lead product candidates are EB05, a monoclonal antibody, which is in Phase 3 clinical study for the treatment of acute respiratory distress syndrome in Covid-19 patients; and EB01, a topical vanishing cream containing non-steroidal anti-inflammatory compound that has completed Phase 2b clinical study to treat chronic allergic contact dermatitis.