Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Down 74.4% in January

Edesa Biotech, Inc. (NASDAQ:EDSA) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 5,500 shares, a drop of 74.4% from the December 31st total of 21,500 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 31,700 shares, the short-interest ratio is currently 0.2 days.

Edesa Biotech Trading Down 7.3 %

NASDAQ:EDSA traded down $0.15 during trading hours on Wednesday, reaching $1.85. 15,046 shares of the company traded hands, compared to its average volume of 29,356. The stock has a market capitalization of $6.40 million, a P/E ratio of -0.96 and a beta of 0.85. The business’s 50-day moving average price is $1.92 and its two-hundred day moving average price is $3.35. Edesa Biotech has a 1 year low of $1.55 and a 1 year high of $5.99.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings data on Friday, December 13th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.25. As a group, equities analysts anticipate that Edesa Biotech will post -1.5 EPS 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.