Hoth Therapeutics (NASDAQ:HOTH) Trading Down 3.2% – Here’s Why

Hoth Therapeutics, Inc. (NASDAQ:HOTH)’s share price fell 3.2% during mid-day trading on Monday . The stock traded as low as $1.51 and last traded at $1.53. 611,624 shares were traded during trading, a decline of 54% from the average session volume of 1,339,838 shares. The stock had previously closed at $1.58.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HOTH. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Hoth Therapeutics in a research report on Monday, August 18th. Wall Street Zen raised Hoth Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hoth Therapeutics in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4.00.

Hoth Therapeutics Trading Down 3.2%

The firm has a fifty day moving average of $1.46 and a two-hundred day moving average of $1.19. The company has a market cap of $20.29 million, a PE ratio of -1.43 and a beta of 0.67.

Hoth Therapeutics (NASDAQ:HOTH) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.10. Sell-side analysts expect that Hoth Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Hoth Therapeutics

A hedge fund recently raised its stake in Hoth Therapeutics stock. Geode Capital Management LLC increased its position in Hoth Therapeutics, Inc. (NASDAQ:HOTH) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 122,575 shares of the company’s stock after acquiring an additional 9,071 shares during the quarter. Geode Capital Management LLC owned about 0.93% of Hoth Therapeutics worth $143,000 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.