Edesa Biotech (NASDAQ:EDSA) CEO Buys $39,000.00 in Stock

by · The Markets Daily

Edesa Biotech, Inc. (NASDAQ:EDSA – Get Free Report) CEO Pardeep Nijhawan acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were purchased at an average cost of $3.90 per share, for a total transaction of $39,000.00. Following the completion of the purchase, the chief executive officer directly owned 402,702 shares of the company’s stock, valued at approximately $1,570,537.80. The trade was a 2.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was purchased at an average price of $3.63 per share, with a total value of $36,300.00.
  • On Friday, February 27th, Pardeep Nijhawan bought 30,000 shares of Edesa Biotech stock. The stock was purchased at an average price of $2.22 per share, with a total value of $66,600.00.
  • On Thursday, February 26th, Pardeep Nijhawan bought 20,571 shares of Edesa Biotech stock. The stock was acquired at an average cost of $1.58 per share, for a total transaction of $32,502.18.

Edesa Biotech Price Performance

NASDAQ EDSA opened at $6.52 on Monday. The firm has a market cap of $54.44 million, a PE ratio of -5.67 and a beta of 0.04. Edesa Biotech, Inc. has a one year low of $0.72 and a one year high of $7.43. The stock’s 50 day simple moving average is $1.60 and its 200 day simple moving average is $1.93.

Edesa Biotech (NASDAQ:EDSA – Get Free Report) last released its quarterly earnings results on Friday, February 13th. The company reported ($0.28) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.28). The business had revenue of $0.10 million for the quarter. As a group, equities analysts expect that Edesa Biotech, Inc. will post -1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Edesa Biotech has an average rating of “Hold” and an average target price of $5.00.

Read Our Latest Stock Analysis on EDSA

Institutional Trading of Edesa Biotech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DRW Securities LLC bought a new position in Edesa Biotech in the 4th quarter worth approximately $191,000. Diadema Partners LP bought a new position in Edesa Biotech in the 4th quarter valued at $77,000. State Street Corp bought a new position in Edesa Biotech in the 4th quarter valued at $27,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Edesa Biotech in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 5.50% of the company’s stock.

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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