Edesa Biotech (NASDAQ:EDSA) CEO Pardeep Nijhawan Acquires 10,000 Shares

Edesa Biotech, Inc. (NASDAQ:EDSA) CEO Pardeep Nijhawan acquired 10,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average cost of $3.90 per share, with a total value of $39,000.00. Following the transaction, the chief executive officer directly owned 402,702 shares in the company, valued at $1,570,537.80. This trade represents a 2.55% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Pardeep Nijhawan also recently made the following trade(s):

• On Tuesday, March 3rd, Pardeep Nijhawan bought 10,000 shares of Edesa Biotech stock. The shares were purchased at an average price of $3.63 per share, for a total transaction of $36,300.00.
• On Friday, February 27th, Pardeep Nijhawan acquired 30,000 shares of Edesa Biotech stock. The stock was purchased at an average cost of $2.22 per share, for a total transaction of $66,600.00.
• On Thursday, February 26th, Pardeep Nijhawan purchased 20,571 shares of Edesa Biotech stock. The shares were acquired at an average cost of $1.58 per share, with a total value of $32,502.18.

Edesa Biotech Price Performance

Shares of EDSA traded up $2.91 during mid-day trading on Friday, reaching $6.52. The company’s stock had a trading volume of 31,861,352 shares, compared to its average volume of 5,376,290. The company’s 50 day moving average is $1.50 and its 200 day moving average is $1.91. The stock has a market cap of $54.44 million, a PE ratio of -5.67 and a beta of 0.05. Edesa Biotech, Inc. has a 12-month low of $0.72 and a 12-month high of $7.43.

Edesa Biotech (NASDAQ:EDSA) last announced its earnings results on Friday, February 13th. The company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). The business had revenue of $0.10 million during the quarter. As a group, sell-side analysts anticipate that Edesa Biotech, Inc. will post -1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On Edesa Biotech

Large investors have recently bought and sold shares of the company. DRW Securities LLC bought a new position in shares of Edesa Biotech during the fourth quarter worth approximately $191,000. Diadema Partners LP acquired a new position in shares of Edesa Biotech in the fourth quarter valued at about $77,000. Susquehanna International Group LLP bought a new position in Edesa Biotech during the third quarter worth about $36,000. Finally, State Street Corp acquired a new stake in Edesa Biotech in the 4th quarter worth about $27,000. Institutional investors and hedge funds own 5.50% of the company’s stock.

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.