Pardeep Nijhawan Acquires 5,000 Shares of Edesa Biotech, Inc. (NASDAQ:EDSA) Stock

Edesa Biotech, Inc. (NASDAQ:EDSA) CEO Pardeep Nijhawan purchased 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $4.00 per share, for a total transaction of $20,000.00. Following the completion of the transaction, the chief executive officer now directly owns 341,702 shares in the company, valued at approximately $1,366,808. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Edesa Biotech Trading Up 8.0 %

Shares of EDSA stock opened at $4.45 on Thursday. Edesa Biotech, Inc. has a 1 year low of $2.46 and a 1 year high of $8.61. The business’s fifty day moving average is $4.69 and its 200-day moving average is $4.40.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings data on Friday, February 9th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.67. As a group, sell-side analysts expect that Edesa Biotech, Inc. will post -2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Edesa Biotech in a research report on Wednesday, February 14th.

Institutional Investors Weigh In On Edesa Biotech

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP bought a new stake in shares of Edesa Biotech during the 4th quarter worth $52,000. CM Management LLC boosted its stake in shares of Edesa Biotech by 11.4% during the 3rd quarter. CM Management LLC now owns 417,602 shares of the company’s stock worth $264,000 after acquiring an additional 42,602 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Edesa Biotech by 150.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,800 shares of the company’s stock worth $246,000 after acquiring an additional 49,700 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Edesa Biotech during the 2nd quarter worth $86,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Edesa Biotech in the second quarter worth $44,000. 5.50% of the stock is owned by institutional investors.

About Edesa Biotech

Edesa Biotech, Inc, a clinical-stage biopharmaceutical company, engages in the research and development, manufacture, and commercialization of pharmaceutical products for inflammatory and immune-related diseases. Its lead product candidates are EB05, a monoclonal antibody, which is in Phase 3 clinical study for the treatment of acute respiratory distress syndrome in Covid-19 patients; and EB01, a topical vanishing cream containing non-steroidal anti-inflammatory compound that has completed Phase 2b clinical study to treat chronic allergic contact dermatitis.