Market cap of Edesa Biotech Inc. [EDSA] reaches 16.49M – now what?

Edesa Biotech Inc. [NASDAQ: EDSA] surged by $0.16 during the normal trading session on Tuesday and reaching a high of $1.22 during the day while it closed the day at $1.06. The company report on December 20, 2022 that FDA Grants Fast Track to Edesa Biotech’s ARDS Drug Candidate.

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Fast Track improves the speed and frequency of communication with FDA, potentially leading to earlier drug approval and access by patients.

Edesa Biotech, Inc. (Nasdaq:EDSA), a clinical-stage biopharmaceutical company focused on inflammatory and immune-related diseases, has received Fast Track designation from the U.S. Food and Drug Administration for its monoclonal antibody candidate, EB05. Approval of the company’s application follows favorable Phase 2 results from an international Phase 2

Edesa Biotech Inc. stock has also gained 15.92% of its value over the past 7 days. However, EDSA stock has declined by -32.05% in the 3 months of the year. Over the past six months meanwhile, it has lost -36.14% and lost -81.17% year-on date.

The market cap for EDSA stock reached $16.49 million, with 15.46 million shares outstanding and 11.62 million shares in the current float. Compared to the average trading volume of 198.52K shares, EDSA reached a trading volume of 4475375 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Edesa Biotech Inc. [EDSA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EDSA shares is $14.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EDSA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Edesa Biotech Inc. is set at 0.08 The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 0.82.

EDSA stock trade performance evaluation

Edesa Biotech Inc. [EDSA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.92. With this latest performance, EDSA shares gained by 27.97% in over the last four-week period, additionally sinking by -36.14% over the last 6 months – not to mention a drop of -81.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EDSA stock in for the last two-week period is set at 61.56, with the RSI for the last a single of trading hit 67.87, and the three-weeks RSI is set at 55.87 for Edesa Biotech Inc. [EDSA]. The present Moving Average for the last 50 days of trading for this stock 0.9389, while it was recorded at 0.9550 for the last single week of trading, and 1.7711 for the last 200 days.

Edesa Biotech Inc. [EDSA]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -120.39, with Return on Assets sitting at -105.28.

Edesa Biotech Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.70.

Edesa Biotech Inc. [EDSA]: Insider Ownership positions

There are presently around $1 million, or 16.90% of EDSA stock, in the hands of institutional investors. The top three institutional holders of EDSA stocks are: CM MANAGEMENT, LLC with ownership of 250,000, which is approximately New of the company’s market cap and around 4.00% of the total institutional ownership; VANGUARD GROUP INC, holding 110,713 shares of the stock with an approximate value of $0.12 million in EDSA stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $87000.0 in EDSA stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Edesa Biotech Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 4 institutional holders increased their position in Edesa Biotech Inc. [NASDAQ:EDSA] by around 258,608 shares. Additionally, 6 investors decreased positions by around 1,127,175 shares, while 13 investors held positions by with 847,217 shares. The mentioned changes placed institutional holdings at 538,566 shares, according to the latest SEC report filing. EDSA stock had 1 new institutional investments in for a total of 250,000 shares, while 4 institutional investors sold positions of 1,090,232 shares during the same period.


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