Edesa Biotech (NASDAQ:EDSA) CEO Pardeep Nijhawan Buys 10,000 Shares of Stock

Edesa Biotech, Inc. (NASDAQ:EDSA) CEO Pardeep Nijhawan bought 10,000 shares of Edesa Biotech stock in a transaction dated Thursday, March 5th. The stock was purchased at an average cost of $3.90 per share, with a total value of $39,000.00. Following the completion of the acquisition, the chief executive officer directly owned 402,702 shares in the company, valued at approximately $1,570,537.80. The trade was a 2.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Pardeep Nijhawan also recently made the following trade(s):

• On Tuesday, March 3rd, Pardeep Nijhawan purchased 10,000 shares of Edesa Biotech stock. The stock was bought at an average price of $3.63 per share, for a total transaction of $36,300.00.
• On Friday, February 27th, Pardeep Nijhawan purchased 30,000 shares of Edesa Biotech stock. The shares were bought at an average price of $2.22 per share, with a total value of $66,600.00.
• On Thursday, February 26th, Pardeep Nijhawan acquired 20,571 shares of Edesa Biotech stock. The stock was purchased at an average price of $1.58 per share, with a total value of $32,502.18.

Edesa Biotech Stock Performance

Edesa Biotech stock traded up $2.91 during midday trading on Friday, reaching $6.52. The company’s stock had a trading volume of 31,861,352 shares, compared to its average volume of 10,134,933. The stock’s 50 day simple moving average is $1.60 and its 200 day simple moving average is $1.94. Edesa Biotech, Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $7.43. The firm has a market capitalization of $54.44 million, a PE ratio of -5.67 and a beta of 0.05.

Edesa Biotech (NASDAQ:EDSA) last posted its earnings results on Friday, February 13th. The company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). The firm had revenue of $0.10 million during the quarter. Equities analysts predict that Edesa Biotech, Inc. will post -1.75 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Edesa Biotech has an average rating of “Hold” and a consensus price target of $5.00.

Hedge Funds Weigh In On Edesa Biotech

Several institutional investors and hedge funds have recently bought and sold shares of EDSA. DRW Securities LLC purchased a new stake in shares of Edesa Biotech during the 4th quarter valued at $191,000. Diadema Partners LP acquired a new position in Edesa Biotech in the fourth quarter valued at $77,000. State Street Corp acquired a new position in Edesa Biotech in the fourth quarter valued at $27,000. Finally, Susquehanna International Group LLP purchased a new stake in Edesa Biotech during the third quarter valued at about $36,000. Institutional investors and hedge funds own 5.50% of the company’s stock.

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.