Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Down 87.4% in February

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 107,300 shares, a drop of 87.4% from the February 13th total of 852,100 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 1,840,000 shares, the short-interest ratio is presently 0.1 days.

Edesa Biotech Price Performance

EDSA traded down $0.10 on Wednesday, hitting $2.39. The company had a trading volume of 20,126 shares, compared to its average volume of 2,530,796. The stock has a market cap of $16.69 million, a price-to-earnings ratio of -1.28 and a beta of 0.77. The company’s fifty day moving average price is $2.06 and its 200 day moving average price is $2.81. Edesa Biotech has a 1-year low of $1.55 and a 1-year high of $5.59.

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

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 stake in Edesa Biotech, Inc. (NASDAQ:EDSA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,313 shares of the company’s stock, valued at approximately $26,000. Two Sigma Securities LLC owned approximately 0.44% of Edesa Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 5.50% of the company’s stock.

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.