Hoth Therapeutics (NASDAQ:HOTH) Shares Down 2.9% – Time to Sell?

Hoth Therapeutics, Inc. (NASDAQ:HOTH) shares were down 2.9% during trading on Friday . The company traded as low as $1.00 and last traded at $1.01. Approximately 220,693 shares were traded during trading, an increase of 88% from the average daily volume of 117,134 shares. The stock had previously closed at $1.04.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HOTH shares. D. Boral Capital reissued a “buy” rating and issued a $5.00 target price on shares of Hoth Therapeutics in a research report on Thursday, December 4th. Wall Street Zen downgraded Hoth Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Hoth Therapeutics in a report on Monday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.50.

Hoth Therapeutics Price Performance

The stock’s 50-day moving average is $1.21 and its 200 day moving average is $1.34. The stock has a market cap of $15.67 million, a price-to-earnings ratio of -0.95 and a beta of 0.64.

Hoth Therapeutics (NASDAQ:HOTH) last issued its earnings results on Wednesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.20). Analysts anticipate that Hoth Therapeutics, Inc. will post -1.36 EPS for the current year.

Institutional Investors Weigh In On Hoth Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC acquired a new position in shares of Hoth Therapeutics during the 3rd quarter worth $32,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Hoth Therapeutics in the third quarter valued at about $51,000. Geode Capital Management LLC boosted its holdings in Hoth Therapeutics by 8.0% during the second quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock worth $143,000 after buying an additional 9,071 shares in the last quarter. Virtu Financial LLC acquired a new position in Hoth Therapeutics during the third quarter worth about $184,000. Finally, Citadel Advisors LLC purchased a new position in Hoth Therapeutics in the third quarter valued at about $232,000. 7.08% of the stock is currently owned by hedge funds and other 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.