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

Zacks Investment Research lowered shares of Hoth Therapeutics (NASDAQ:HOTH) from a buy rating to a hold rating in a research report report published on Wednesday, 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. “

NASDAQ:HOTH opened at $2.73 on Wednesday. The company has a fifty day simple moving average of $2.69 and a two-hundred day simple moving average of $3.52. Hoth Therapeutics has a 52 week low of $2.31 and a 52 week high of $7.25.

Hoth Therapeutics (NASDAQ:HOTH) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.01). On average, sell-side analysts anticipate that Hoth Therapeutics will post -0.6 earnings per share for the current fiscal year.

In other Hoth Therapeutics news, major shareholder Anthony Hayes sold 400,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $1.25, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 1,130,674 shares in the company, valued at $1,413,342.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.27% of the company’s stock.

An institutional investor recently bought a new position in Hoth Therapeutics stock. Wedbush Securities Inc. bought a new position in shares of Hoth Therapeutics Inc (NASDAQ:HOTH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,856 shares of the company’s stock, valued at approximately $59,000. Wedbush Securities Inc. owned approximately 0.17% of Hoth Therapeutics at the end of the most recent quarter. Hedge funds and other institutional investors own 0.24% of the company’s stock.

Hoth Therapeutics Company Profile

Hoth Therapeutics, Inc, a development stage biopharmaceutical company, focuses on developing targeted therapeutics for atopic dermatitis. It intends to use the BioLexa Platform to develop 2 topical cream products that treat eczema and reduces post-procedure infections for patients undergoing aesthetic dermatology procedures.

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