Edesa Biotech (NASDAQ:EDSA) Posts Quarterly Earnings Results, Meets Expectations

Edesa Biotech (NASDAQ:EDSA) posted its earnings results on Friday. The company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28), FiscalAI reports. The firm had revenue of $0.10 million during the quarter.

Edesa Biotech Price Performance

Shares of Edesa Biotech stock traded up $0.03 during trading on Friday, hitting $1.02. The stock had a trading volume of 55,174 shares, compared to its average volume of 84,388. Edesa Biotech has a 12 month low of $0.94 and a 12 month high of $2.96. The firm’s fifty day simple moving average is $1.42 and its 200-day simple moving average is $1.95. The stock has a market cap of $8.50 million, a PE ratio of -0.76 and a beta of 0.21.

Institutional Trading of Edesa Biotech

Several institutional investors have recently added to or reduced their stakes in EDSA. DRW Securities LLC purchased a new position in Edesa Biotech during the 4th quarter worth $191,000. Susquehanna International Group LLP purchased a new stake in shares of Edesa Biotech in the 3rd quarter worth $36,000. Finally, State Street Corp bought a new position in shares of Edesa Biotech during the 4th quarter worth $27,000. Institutional investors own 5.50% of the company’s stock.

Analyst Ratings Changes

EDSA has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a report on Monday, December 29th. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Edesa Biotech in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Edesa Biotech has an average rating of “Hold” and an average target price of $5.00.

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.