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

Edesa Biotech, Inc. (NASDAQ:EDSA) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 107,300 shares, a decrease of 87.4% from the February 13th total of 852,100 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Edesa Biotech

A hedge fund recently bought a new stake in Edesa Biotech stock. Two Sigma Securities LLC purchased a new position in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 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 SEC filing. 5.50% of the stock is owned by hedge funds and other institutional investors.

Edesa Biotech Trading Down 4.2 %

Shares of Edesa Biotech stock traded down $0.10 on Wednesday, reaching $2.39. 20,126 shares of the company were exchanged, compared to its average volume of 2,530,796. Edesa Biotech has a fifty-two week low of $1.55 and a fifty-two week high of $5.59. The firm has a market capitalization of $16.69 million, a price-to-earnings ratio of -1.28 and a beta of 0.77. The stock has a fifty day moving average price of $2.06 and a 200-day moving average price of $2.81.

Edesa Biotech (NASDAQ:EDSA) last released its earnings results on Friday, February 14th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.17). During the same period last year, the firm earned ($0.54) EPS. On average, equities analysts anticipate that Edesa Biotech will post -1.75 earnings per share for the current fiscal year.

Edesa Biotech Company Profile

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.