Edesa Biotech (NASDAQ:EDSA) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Edesa Biotech (NASDAQ:EDSA) from a sell rating to a strong sell rating in a research report released on Saturday morning.

Several other brokerages also recently issued reports on EDSA. Brookline Capital Markets raised shares of Edesa Biotech to a “strong-buy” rating in a research note on Monday, June 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a report on Wednesday, June 24th. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Edesa Biotech Price Performance

EDSA stock opened at $5.24 on Friday. The firm has a market cap of $50.46 million, a PE ratio of -3.91 and a beta of 1.09. Edesa Biotech has a 12 month low of $0.72 and a 12 month high of $20.32. The firm has a 50 day simple moving average of $6.38 and a 200 day simple moving average of $6.29.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). As a group, sell-side analysts expect that Edesa Biotech will post -1.66 earnings per share for the current year.

Institutional Trading of Edesa Biotech

Several hedge funds and other institutional investors have recently modified their holdings of EDSA. Perceptive Advisors LLC acquired a new stake in Edesa Biotech during the first quarter valued at $2,946,000. Diadema Partners LP purchased a new position in Edesa Biotech in the fourth quarter valued at about $77,000. DRW Securities LLC acquired a new position in Edesa Biotech in the 4th quarter worth about $191,000. Susquehanna International Group LLP acquired a new position in Edesa Biotech in the 3rd quarter worth about $36,000. Finally, State Street Corp purchased a new stake in shares of Edesa Biotech during the 4th quarter worth about $27,000. 5.50% of the stock is currently owned by hedge funds and other institutional investors.

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.