Key Points
- Pardeep Nijhawan (CEO) purchased 10,000 shares on March 3 at $3.63, raising his holdings to 382,702 shares (~$1.39M); this follows prior buys of 20,571 and 30,000 shares on Feb 26–27, bringing recent insider purchases to 60,571 shares total.
- Despite the insider buying, NASDAQ:EDSA fell 8.4% to $3.91 (market cap ≈ $32.65M), the company reports negative EPS, and analysts show an average rating of Hold with a $5 consensus target.
Edesa Biotech, Inc. (NASDAQ:EDSA - Get Free Report) CEO Pardeep Nijhawan acquired 10,000 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average price of $3.63 per share, with a total value of $36,300.00. Following the transaction, the chief executive officer owned 382,702 shares in the company, valued at approximately $1,389,208.26. The trade was a 2.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Pardeep Nijhawan also recently made the following trade(s):
- On Friday, February 27th, Pardeep Nijhawan bought 30,000 shares of Edesa Biotech stock. The stock was acquired at an average price of $2.22 per share, with a total value of $66,600.00.
- On Thursday, February 26th, Pardeep Nijhawan purchased 20,571 shares of Edesa Biotech stock. The stock was acquired at an average cost of $1.58 per share, with a total value of $32,502.18.
Edesa Biotech Stock Down 8.4%
NASDAQ:EDSA traded down $0.36 during mid-day trading on Thursday, reaching $3.91. 1,194,120 shares of the company were exchanged, compared to its average volume of 4,748,780. The stock has a market cap of $32.65 million, a PE ratio of -3.40 and a beta of 0.05. Edesa Biotech, Inc. has a 12 month low of $0.72 and a 12 month high of $5.40. The company has a fifty day moving average of $1.46 and a 200 day moving average of $1.90.
Edesa Biotech (NASDAQ:EDSA - Get Free Report) last released its quarterly earnings results on Friday, February 13th. The company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28). The company had revenue of $0.10 million for the quarter. On average, equities research analysts anticipate that Edesa Biotech, Inc. will post -1.75 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp bought a new stake in Edesa Biotech during the 4th quarter worth approximately $27,000. Susquehanna International Group LLP acquired a new stake in shares of Edesa Biotech in the third quarter valued at about $36,000. Diadema Partners LP bought a new stake in shares of Edesa Biotech during the 4th quarter worth approximately $77,000. Finally, DRW Securities LLC bought a new stake in Edesa Biotech during the fourth quarter worth $191,000. 5.50% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Edesa Biotech in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Edesa Biotech currently has an average rating of "Hold" and a consensus target price of $5.00.
Check Out Our Latest Research Report on EDSA
About Edesa Biotech
(
Get Free Report)
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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