Edesa Biotech, Inc. (NASDAQ:EDSA – Get Free Report) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 21,000 shares, a growth of 2,525.0% from the January 15th total of 800 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 28,800 shares, the days-to-cover ratio is presently 0.7 days.
Analyst Ratings Changes
Separately, HC Wainwright decreased their target price on Edesa Biotech from $70.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 29th.
Hedge Funds Weigh In On Edesa Biotech
Edesa Biotech Trading Up 7.9 %
NASDAQ:EDSA opened at $5.21 on Tuesday. Edesa Biotech has a fifty-two week low of $2.46 and a fifty-two week high of $10.71. The business’s 50-day simple moving average is $4.68 and its 200-day simple moving average is $4.69.
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.
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