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

Edesa Biotech, Inc. (NASDAQ:EDSA) was the recipient of a large decrease in short interest in January. As of January 15th, there was short interest totalling 5,500 shares, a decrease of 74.4% from the December 31st total of 21,500 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 31,700 shares, the days-to-cover ratio is presently 0.2 days.

Edesa Biotech Price Performance

NASDAQ EDSA traded down $0.15 on Wednesday, reaching $1.85. 15,046 shares of the company’s stock traded hands, compared to its average volume of 29,356. The stock has a market cap of $6.40 million, a PE ratio of -0.96 and a beta of 0.85. Edesa Biotech has a 12 month low of $1.55 and a 12 month high of $5.99. The stock has a 50-day simple moving average of $1.92 and a 200 day simple moving average of $3.35.

Edesa Biotech (NASDAQ:EDSA) last released its earnings results on Friday, December 13th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.25. As a group, 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.