Edesa Biotech (NASDAQ:EDSA) Releases Earnings Results, Misses Estimates By $0.25 EPS

Edesa Biotech (NASDAQ:EDSA) posted its quarterly earnings data on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25), FiscalAI reports.

Edesa Biotech Stock Down 6.8%

Shares of NASDAQ:EDSA traded down $0.99 during midday trading on Friday, hitting $13.62. The stock had a trading volume of 119,868 shares, compared to its average volume of 3,122,345. The company has a market cap of $121.08 million, a P/E ratio of -11.84 and a beta of 1.26. Edesa Biotech has a 12 month low of $0.72 and a 12 month high of $20.32. The business’s 50-day simple moving average is $8.35 and its 200-day simple moving average is $3.95.

Insider Transactions at Edesa Biotech

In other news, CEO Pardeep Nijhawan purchased 10,000 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was purchased at an average price of $3.90 per share, for a total transaction of $39,000.00. Following the completion of the purchase, the chief executive officer directly owned 402,702 shares in the company, valued at $1,570,537.80. The trade was a 2.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 73,571 shares of company stock worth $184,142 over the last 90 days. Corporate insiders own 24.40% of the company’s stock.

Institutional Investors Weigh In On Edesa Biotech

A number of institutional investors and hedge funds have recently modified their holdings of EDSA. State Street Corp acquired a new stake in Edesa Biotech in the 4th quarter valued at about $27,000. Susquehanna International Group LLP bought a new stake in Edesa Biotech in the third quarter valued at approximately $36,000. Diadema Partners LP bought a new stake in Edesa Biotech in the fourth quarter valued at approximately $77,000. Finally, DRW Securities LLC acquired a new stake in shares of Edesa Biotech in the fourth quarter valued at approximately $191,000. 5.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EDSA. Wall Street Zen raised shares of Edesa Biotech from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.