Tharimmune (NASDAQ:THAR) Stock Price Down 8.8% – Here’s Why

Tharimmune, Inc. (NASDAQ:THAR)’s stock price dropped 8.8% on Thursday . The company traded as low as $2.04 and last traded at $2.08. Approximately 718,254 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,476,877 shares. The stock had previously closed at $2.28.

Tharimmune Price Performance

The company has a 50 day simple moving average of $2.22 and a 200-day simple moving average of $3.10. The firm has a market cap of $86.02 million, a PE ratio of -0.57 and a beta of 1.43.

Hedge Funds Weigh In On Tharimmune

Several institutional investors and hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC bought a new position in shares of Tharimmune during the fourth quarter valued at about $9,854,000. Clear Street Group Inc. bought a new stake in shares of Tharimmune in the 4th quarter valued at about $5,066,000. Feynman Point Asset Management LLC purchased a new stake in Tharimmune during the 4th quarter valued at about $1,314,000. Marshall Wace LLP bought a new position in Tharimmune during the 4th quarter worth approximately $1,030,000. Finally, Geode Capital Management LLC increased its stake in shares of Tharimmune by 1,102.6% in the fourth quarter. Geode Capital Management LLC now owns 335,923 shares of the company’s stock worth $1,018,000 after buying an additional 307,991 shares during the period. Institutional investors own 1.16% of the company’s stock.

Tharimmune Company Profile

Tharimmune, Inc, a clinical-stage biotechnology company, engages in the development of therapeutic candidates for rare, inflammatory, and oncologic diseases. The company's pre-clinical immuno-oncology pipeline includes TH104, a product candidate for the treatment of liver-related and other pruritogenic inflammatory conditions; TH3215 and TH0059 that are product candidates used to treat various solid tumors; and TH1940, which targets programmed cell death protein 1 (PD-1). It has a research collaboration and product license agreement with Minotaur Therapeutics, Inc for the development of proprietary targeted biologics; and Washington University in St.