Edesa Biotech (NASDAQ:EDSA) Shares Down 0.4% - Should You Sell?

Key Points

• Edesa Biotech shares slipped 0.4% on Thursday, trading between $5.30 and $5.68 on volume that was about 45% above the daily average.
• Analyst sentiment is mixed: Weiss Ratings reiterated a sell (e+), Brookline Capital Markets upgraded the stock to strong-buy, and Wall Street Zen moved it up to sell. The consensus rating remains Moderate Buy with a $5.00 target price.
• The company recently reported a larger-than-expected quarterly loss, posting EPS of -$0.49 versus expectations of -$0.24. Edesa is a clinical-stage biotech focused on vaccines and immunotherapies, including a lead intranasal COVID-19 vaccine candidate.

Edesa Biotech, Inc. (NASDAQ:EDSA - Get Free Report)'s share price traded down 0.4% during trading on Thursday . The company traded as low as $5.30 and last traded at $5.66. Approximately 93,800 shares changed hands during trading, an increase of 45% from the average daily volume of 64,851 shares. The stock had previously closed at $5.68.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EDSA. Weiss Ratings reiterated a "sell (e+)" rating on shares of Edesa Biotech in a report on Wednesday, June 24th. Brookline Capital Markets upgraded shares of Edesa Biotech to a "strong-buy" rating in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of Edesa Biotech from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Edesa Biotech Stock Performance

The stock has a market cap of $54.51 million, a P/E ratio of -4.22 and a beta of 1.03. The firm has a 50-day moving average price of $7.45 and a 200-day moving average price of $5.98.

Edesa Biotech (NASDAQ:EDSA - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.25). On average, research analysts predict that Edesa Biotech, Inc. will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Edesa Biotech

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

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.

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