Is it Time to Dump Edesa Biotech Inc (EDSA) Stock After it Has Fallen 1.23% in a Week?

The market has been high on Edesa Biotech Inc (EDSA) stock recently. EDSA gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Edesa Biotech Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on EDSA!

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What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With EDSA Stock Today?

Edesa Biotech Inc (EDSA) stock has fallen -3.61% while the S&P 500 is up 0.11% as of 9:50 AM on Monday, Jul 17. EDSA is lower by -$0.03 from the previous closing price of $0.83 on volume of 238,278 shares. Over the past year the S&P 500 has risen 17.74% while EDSA is lower by -50.92%. EDSA lost -$0.79 per share in the over the last 12 months. To see InvestorsObserver's Sentiment Score for Edesa Biotech Inc click here.

More About Edesa Biotech Inc

Edesa Biotech Inc is a biotechnology company focused on inflammatory and immune-related diseases. It is involved in exploring novel ways to treat these diseases, including alternatives to topical steroids, which can have side-effects. The company's product candidate, EB01, is a non-steroidal, anti-inflammatory treatment for chronic allergic contact dermatitis. The company's EB05 candidate is a monoclonal antibody therapy for hospitalized COVID-19 patients. Click Here to get the full Stock Report for Edesa Biotech Inc stock.