Edesa Biotech (NASDAQ:EDSA) Releases Earnings Results, Misses Estimates By $0.16 EPS

Edesa Biotech (NASDAQ:EDSA) posted its quarterly earnings data on Thursday. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.16), FiscalAI reports.

Edesa Biotech Stock Performance

Shares of NASDAQ EDSA traded up $0.13 during trading hours on Thursday, reaching $5.43. The stock had a trading volume of 35,081 shares, compared to its average volume of 58,385. Edesa Biotech has a twelve month low of $0.72 and a twelve month high of $20.32. The business’s fifty day moving average is $6.29 and its two-hundred day moving average is $6.38.

Institutional Investors Weigh In On Edesa Biotech

Several institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new stake in shares of Edesa Biotech during the 3rd quarter valued at about $36,000. DRW Securities LLC bought a new stake in Edesa Biotech in the fourth quarter valued at about $191,000. State Street Corp acquired a new position in Edesa Biotech in the fourth quarter worth about $27,000. Finally, Diadema Partners LP acquired a new position in Edesa Biotech in the fourth quarter worth about $77,000. Institutional investors own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Brookline Capital Markets raised shares of Edesa Biotech to a “strong-buy” rating in a research report on Monday, June 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a report on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of Edesa Biotech from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Edesa Biotech presently has an average rating of “Moderate Buy” 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.