Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Update

Edesa Biotech, Inc. (NASDAQ:EDSA) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 852,100 shares, an increase of 4,942.0% from the January 31st total of 16,900 shares. Currently, 15.5% of the company’s stock are short sold. Based on an average daily volume of 1,830,000 shares, the days-to-cover ratio is presently 0.5 days.

Edesa Biotech Stock Down 2.3 %

NASDAQ EDSA opened at $2.14 on Friday. The firm has a market capitalization of $14.84 million, a PE ratio of -1.14 and a beta of 0.85. The stock’s 50 day moving average is $1.98 and its 200 day moving average is $2.96. Edesa Biotech has a twelve month low of $1.55 and a twelve month high of $5.59.

Edesa Biotech (NASDAQ:EDSA) last announced its earnings results on Friday, February 14th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). During the same quarter in the previous year, the company posted ($0.54) EPS. On average, research analysts anticipate that Edesa Biotech will post -1.75 earnings per share for the current year.

Institutional Investors Weigh In On Edesa Biotech

An institutional investor recently bought a new position in Edesa Biotech stock. Two Sigma Securities LLC bought a new stake in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,313 shares of the company’s stock, valued at approximately $26,000. Two Sigma Securities LLC owned about 0.44% of Edesa Biotech as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 5.50% of the company’s stock.

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.