Edesa Biotech (NASDAQ:EDSA) CEO Acquires $32,502.18 in Stock

Edesa Biotech, Inc. (NASDAQ:EDSA) CEO Pardeep Nijhawan bought 20,571 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was purchased at an average price of $1.58 per share, with a total value of $32,502.18. Following the completion of the purchase, the chief executive officer directly owned 615,797 shares of the company’s stock, valued at $972,959.26. This represents a 3.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were acquired at an average price of $3.63 per share, for a total transaction of $36,300.00.
• On Friday, February 27th, Pardeep Nijhawan acquired 30,000 shares of Edesa Biotech stock. The stock was acquired at an average price of $2.22 per share, with a total value of $66,600.00.

Edesa Biotech Stock Performance

NASDAQ:EDSA opened at $4.27 on Thursday. The company has a 50-day moving average of $1.46 and a 200-day moving average of $1.90. Edesa Biotech, Inc. has a 52 week low of $0.72 and a 52 week high of $5.40. The company has a market capitalization of $35.65 million, a price-to-earnings ratio of -3.71 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 analysts’ consensus estimates of ($0.28). The business had revenue of $0.10 million during the quarter. Sell-side analysts forecast that Edesa Biotech, Inc. will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Edesa Biotech presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. DRW Securities LLC acquired a new position in shares of Edesa Biotech in the 4th quarter worth approximately $191,000. Diadema Partners LP bought a new position in Edesa Biotech in the 4th quarter valued at $77,000. Susquehanna International Group LLP bought a new position in Edesa Biotech in the 3rd quarter valued at $36,000. Finally, State Street Corp acquired a new position in Edesa Biotech in the fourth quarter worth $27,000. Institutional investors own 5.50% of the company’s stock.

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.