Pelthos Therapeutics (NYSEAMERICAN:PTHS) Director Richard Malamut Sells 590 Shares of Stock

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Director Richard Malamut sold 590 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $20.92, for a total transaction of $12,342.80. Following the completion of the sale, the director directly owned 27,422 shares of the company’s stock, valued at approximately $573,668.24. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pelthos Therapeutics Stock Performance

Shares of NYSEAMERICAN:PTHS opened at $24.38 on Tuesday. The company has a market capitalization of $81.92 million, a price-to-earnings ratio of -1.17 and a beta of 3.93. The stock’s fifty day moving average is $22.86. Pelthos Therapeutics Inc. has a fifty-two week low of $9.00 and a fifty-two week high of $54.29. The company has a current ratio of 2.05, a quick ratio of 1.15 and a debt-to-equity ratio of 0.81.

Hedge Funds Weigh In On Pelthos Therapeutics

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Pelthos Therapeutics by 31.9% during the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock valued at $422,000 after purchasing an additional 3,295 shares during the last quarter. Persistent Asset Partners Ltd lifted its position in Pelthos Therapeutics by 150.0% during the fourth quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock valued at $186,000 after purchasing an additional 3,604 shares during the last quarter. Millennium Management LLC bought a new position in Pelthos Therapeutics during the fourth quarter valued at $343,000. Knott David M Jr lifted its position in Pelthos Therapeutics by 215.5% during the fourth quarter. Knott David M Jr now owns 19,281 shares of the company’s stock valued at $598,000 after purchasing an additional 13,169 shares during the last quarter. Finally, Diadema Partners LP lifted its position in Pelthos Therapeutics by 138.1% during the fourth quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock valued at $775,000 after purchasing an additional 14,502 shares during the last quarter. Institutional investors own 77.96% of the company’s stock.

Analysts Set New Price Targets

PTHS has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Pelthos Therapeutics in a research note on Thursday, March 19th. Zacks Research upgraded shares of Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 24th. Roth Mkm decreased their price target on shares of Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Cantor Fitzgerald initiated coverage on shares of Pelthos Therapeutics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $50.00 price objective for the company. Finally, Oppenheimer increased their price objective on shares of Pelthos Therapeutics from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Pelthos Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

About Pelthos Therapeutics

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).