Hoth Therapeutics (NASDAQ:HOTH) Stock Price Down 1.8% – Here’s Why

Shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) dropped 1.8% during mid-day trading on Friday . The company traded as low as $0.6966 and last traded at $0.73. Approximately 928,410 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 7,001,222 shares. The stock had previously closed at $0.7432.

Wall Street Analyst Weigh In

HOTH has been the topic of a number of recent research reports. Wall Street Zen upgraded Hoth Therapeutics to a “sell” rating in a research note on Saturday, March 7th. D. Boral Capital restated a “buy” rating and set a $5.00 price objective on shares of Hoth Therapeutics in a research note on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Hoth Therapeutics in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Hoth Therapeutics presently has an average rating of “Hold” and an average target price of $5.00.

Hoth Therapeutics Stock Down 1.8%

The firm’s 50-day simple moving average is $0.88 and its 200 day simple moving average is $1.08. The stock has a market capitalization of $11.88 million, a P/E ratio of -0.81 and a beta of 0.60.

Hoth Therapeutics (NASDAQ:HOTH) last issued its quarterly earnings results on Friday, March 27th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.06). As a group, equities analysts anticipate that Hoth Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Hoth Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Hoth Therapeutics by 8.0% in the second quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock worth $143,000 after acquiring an additional 9,071 shares in the last quarter. Lido Advisors LLC bought a new stake in Hoth Therapeutics in the third quarter worth about $32,000. Kestra Private Wealth Services LLC bought a new stake in Hoth Therapeutics in the third quarter worth about $51,000. Virtu Financial LLC bought a new stake in Hoth Therapeutics in the third quarter worth about $184,000. Finally, Citadel Advisors LLC bought a new stake in Hoth Therapeutics in the third quarter worth about $232,000. 7.08% of the stock is currently owned by institutional investors.

Hoth Therapeutics Company Profile

Hoth Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the acquisition, licensing and development of novel therapies for dermatological, central nervous system and other debilitating conditions. The company’s strategy emphasizes in-licensing late preclinical or early clinical assets with promising pharmacological profiles and leveraging formulation science to optimize delivery. Core to its approach is the design of topical and localized administration platforms intended to enhance drug penetration, sustain release and reduce systemic exposure.

Hoth’s development pipeline encompasses multiple candidate programs addressing high-unmet-need areas such as atopic dermatitis, epidermolysis bullosa and oral mucositis.