Hoth Therapeutics (NASDAQ:HOTH) Rating Lowered to Hold at Zacks Investment Research

Hoth Therapeutics (NASDAQ:HOTH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Hoth Therapeutics Inc. is a development stage biopharmaceutical company. It focused on therapeutics for patients suffering from indications such as atopic dermatitis, also known as eczema. The company’s BioLexa(TM) Platform is a proprietary, patented drug compound platform. Hoth Therapeutics Inc. is based in New York, United States. “

Hoth Therapeutics stock traded up $0.03 during midday trading on Thursday, hitting $0.85. 332,038 shares of the company were exchanged, compared to its average volume of 1,879,543. The firm has a market capitalization of $20.38 million, a PE ratio of -1.52 and a beta of 1.00. Hoth Therapeutics has a fifty-two week low of $0.78 and a fifty-two week high of $3.50. The business has a fifty day simple moving average of $1.10 and a two-hundred day simple moving average of $1.30.

Hoth Therapeutics (NASDAQ:HOTH) last issued its quarterly earnings data on Wednesday, November 10th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Equities research analysts expect that Hoth Therapeutics will post -0.66 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOTH. Bank of New York Mellon Corp purchased a new position in Hoth Therapeutics during the first quarter worth approximately $52,000. Virtu Financial LLC purchased a new position in Hoth Therapeutics during the first quarter worth approximately $260,000. Citadel Advisors LLC lifted its position in Hoth Therapeutics by 137.4% during the first quarter. Citadel Advisors LLC now owns 79,758 shares of the company’s stock worth $157,000 after buying an additional 46,165 shares in the last quarter. Renaissance Technologies LLC lifted its position in Hoth Therapeutics by 40.6% during the first quarter. Renaissance Technologies LLC now owns 221,000 shares of the company’s stock worth $435,000 after buying an additional 63,810 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Hoth Therapeutics by 51.3% during the third quarter. Geode Capital Management LLC now owns 120,361 shares of the company’s stock worth $143,000 after buying an additional 40,790 shares in the last quarter. Institutional investors and hedge funds own 4.12% of the company’s stock.

About Hoth Therapeutics

Hoth Therapeutics, Inc engages in the development of new generation therapies for dermatological disorders. Its product pipeline focuses on potential treatments for indications including atopic dermatitis (also known as eczema), chronic wounds, psoriasis, asthma, and acne. It offers the BioLexa Platform, a proprietary, patented, drug compound platform for the treatment of eczema.

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