Edesa Biotech, Inc. (NASDAQ:EDSA) Sees Significant Increase in Short Interest

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a significant increase in short interest during 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 sold short. Based on an average trading volume of 1,830,000 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

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

Edesa Biotech Price Performance

EDSA traded up $0.03 during trading on Thursday, hitting $2.22. The company had a trading volume of 36,649 shares, compared to its average volume of 3,115,781. Edesa Biotech has a 1-year low of $1.55 and a 1-year high of $5.59. The company has a market cap of $15.36 million, a PE ratio of -1.18 and a beta of 0.85. The business has a 50-day moving average of $1.97 and a 200-day moving average of $2.96.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings data on Friday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). During the same quarter last year, the business posted ($0.54) earnings per share. Research analysts forecast that Edesa Biotech will post -1.75 earnings per share for the current 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.