Edesa Biotech (NASDAQ:EDSA) Stock Price Down 7.3% – What’s Next?

Edesa Biotech, Inc. (NASDAQ:EDSA)’s stock price was down 7.3% during trading on Monday . The stock traded as low as $6.70 and last traded at $6.81. 127,334 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 263,436 shares. The stock had previously closed at $7.35.

Analyst Upgrades and Downgrades

EDSA has been the topic of a number of recent research reports. Wall Street Zen lowered Edesa Biotech from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.00.

Edesa Biotech Trading Down 7.3%

The company has a market cap of $60.54 million, a price-to-earnings ratio of -5.08 and a beta of 1.04. The firm’s fifty day simple moving average is $9.21 and its 200 day simple moving average is $5.08.

Edesa Biotech (NASDAQ:EDSA) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). As a group, sell-side analysts expect that Edesa Biotech, Inc. will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EDSA. State Street Corp purchased a new position in shares of Edesa Biotech in the 4th quarter valued at about $27,000. Susquehanna International Group LLP acquired a new stake in shares of Edesa Biotech during the 3rd quarter worth about $36,000. Diadema Partners LP purchased a new stake in Edesa Biotech during the fourth quarter worth approximately $77,000. DRW Securities LLC purchased a new stake in Edesa Biotech during the fourth quarter worth approximately $191,000. Finally, Perceptive Advisors LLC acquired a new position in Edesa Biotech in the first quarter valued at approximately $2,946,000. 5.50% of the stock is owned by institutional investors and hedge funds.

Edesa Biotech Company Profile

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.