Wall Street Zen Downgrades Hoth Therapeutics (NASDAQ:HOTH) to Sell

Hoth Therapeutics (NASDAQ:HOTH) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, D. Boral Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Hoth Therapeutics in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Hoth Therapeutics Stock Performance

Hoth Therapeutics stock opened at $1.21 on Friday. The firm has a market cap of $15.98 million, a price-to-earnings ratio of -1.06 and a beta of 0.55. Hoth Therapeutics has a 1 year low of $0.58 and a 1 year high of $3.80. The firm’s 50 day moving average price is $0.98 and its two-hundred day moving average price is $1.04.

Hoth Therapeutics (NASDAQ:HOTH) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.07. As a group, equities analysts predict that Hoth Therapeutics will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Hoth Therapeutics

A hedge fund recently raised its stake in Hoth Therapeutics stock. Geode Capital Management LLC grew its stake in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) by 15.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,946 shares of the company’s stock after acquiring an additional 13,038 shares during the period. Geode Capital Management LLC owned 1.39% of Hoth Therapeutics worth $72,000 as of its most recent SEC filing. Institutional investors and hedge funds own 7.08% of the company’s stock.

About Hoth Therapeutics

Hoth Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for unmet medical needs. It is involved in the development of HT-001, a topical formulation, which is in Phase II clinical trial for the treatment of patients with rash and skin disorders associated with initial and repeat courses of tyrosine kinase epidermal growth factor receptor inhibitor therapy; HT-KIT to treat mast-cell derived cancers and anaphylaxis; HT-TBI to treat traumatic brain injury and ischemic stroke; HT-ALZ for the treatment and/or prevention of Alzheimer's or other neuroinflammatory diseases; HT-004 for treatment of asthma and allergies using inhalational administration; HT-003 for the treatment of acne and psoriasis, as well as inflammatory bowel diseases; and HT-002, a novel peptide for treating COVID-19.