Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Up 259.6% in January

Edesa Biotech, Inc. (NASDAQ:EDSA) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 16,900 shares, a growth of 259.6% from the January 15th total of 4,700 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 27,200 shares, the days-to-cover ratio is presently 0.6 days.

Edesa Biotech Trading Up 99.4 %

Edesa Biotech stock traded up $1.85 on Thursday, reaching $3.71. 78,619,056 shares of the stock were exchanged, compared to its average volume of 2,037,212. Edesa Biotech has a twelve month low of $1.55 and a twelve month high of $5.99. The firm has a fifty day moving average price of $1.84 and a two-hundred day moving average price of $3.13. The stock has a market cap of $12.87 million, a PE ratio of -1.97 and a beta of 0.85.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings data on Friday, December 13th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.25. Equities analysts anticipate that Edesa Biotech will post -1.75 EPS for the current fiscal year.

Edesa Biotech Company Profile

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.