Edesa Biotech (NASDAQ:EDSA) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Edesa Biotech (NASDAQ:EDSA) issued its earnings results on Thursday. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.25), FiscalAI reports.

Edesa Biotech Trading Down 4.1%

EDSA traded down $0.63 during trading on Thursday, reaching $14.61. 130,883 shares of the company’s stock were exchanged, compared to its average volume of 1,085,382. Edesa Biotech has a one year low of $0.72 and a one year high of $20.32. The stock has a market capitalization of $129.88 million, a PE ratio of -12.70 and a beta of 1.26. The firm has a fifty day moving average price of $8.35 and a two-hundred day moving average price of $3.95.

Insider Activity at Edesa Biotech

In other news, CEO Pardeep Nijhawan acquired 10,000 shares of Edesa Biotech stock in a transaction dated Thursday, March 5th. The shares were bought at an average cost of $3.90 per share, with a total value of $39,000.00. Following the purchase, the chief executive officer owned 402,702 shares in the company, valued at $1,570,537.80. This trade represents a 2.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have acquired 73,571 shares of company stock valued at $184,142. Corporate insiders own 24.40% of the company’s stock.

Institutional Investors Weigh In On Edesa Biotech

A number of institutional investors have recently modified their holdings of the company. Diadema Partners LP bought a new stake in shares of Edesa Biotech in the 4th quarter valued at $77,000. State Street Corp bought a new stake in shares of Edesa Biotech in the 4th quarter valued at $27,000. DRW Securities LLC bought a new stake in shares of Edesa Biotech in the 4th quarter valued at $191,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Edesa Biotech in the 3rd quarter valued at $36,000. 5.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EDSA has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Edesa Biotech from a “sell” rating to a “hold” rating in a research report on Sunday, April 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Edesa Biotech presently has an average rating of “Hold” and an average 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.