Short Interest in Edesa Biotech, Inc. (NASDAQ:EDSA) Grows By 4,942.0%

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

Institutional Investors Weigh In On Edesa Biotech

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

Edesa Biotech Stock Performance

Shares of EDSA opened at $2.19 on Friday. The stock has a market capitalization of $15.19 million, a PE ratio of -1.17 and a beta of 0.85. The company’s fifty day moving average is $1.99 and its 200 day moving average is $2.94. Edesa Biotech has a fifty-two week low of $1.55 and a fifty-two week high of $5.59.

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

About Edesa Biotech

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.