Edesa Biotech, Inc. (NASDAQ:EDSA) Sees Significant Growth in Short Interest

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 28,454 shares, a growth of 103.8% from the January 15th total of 13,960 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 85,292 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 85,292 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the company’s stock are short sold.

Edesa Biotech Price Performance

Shares of NASDAQ:EDSA opened at $1.00 on Friday. Edesa Biotech has a 1 year low of $0.94 and a 1 year high of $4.49. The company has a market capitalization of $8.29 million, a PE ratio of -0.74 and a beta of 0.21. The business has a fifty day moving average price of $1.42 and a two-hundred day moving average price of $1.95.

Edesa Biotech (NASDAQ:EDSA) last released its earnings results on Friday, December 12th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.80. The business had revenue of $0.25 million for the quarter. Sell-side analysts anticipate that Edesa Biotech will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Edesa Biotech stock. Susquehanna International Group LLP purchased a new position in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,610 shares of the company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned about 0.21% of Edesa Biotech as of its most recent SEC filing. 5.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EDSA has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Edesa Biotech in a report on Monday, November 3rd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.