Hoth Therapeutics (NASDAQ:HOTH) Releases Quarterly Earnings Results

Hoth Therapeutics (NASDAQ:HOTH) posted its earnings results on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, Zacks reports.

Hoth Therapeutics Stock Performance

HOTH stock remained flat at $1.28 during midday trading on Wednesday. The company had a trading volume of 139,473 shares, compared to its average volume of 3,255,705. The company has a market capitalization of $16.97 million, a price-to-earnings ratio of -1.20 and a beta of 0.63. Hoth Therapeutics has a 1 year low of $0.66 and a 1 year high of $3.80. The business’s fifty day moving average price is $1.53 and its two-hundred day moving average price is $1.29.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hoth Therapeutics stock. Geode Capital Management LLC lifted its holdings in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,575 shares of the company’s stock after buying an additional 9,071 shares during the quarter. Geode Capital Management LLC owned about 0.93% of Hoth Therapeutics worth $143,000 at the end of the most recent quarter. Institutional investors own 7.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HOTH. Wall Street Zen cut Hoth Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. D. Boral Capital restated a “buy” rating and set a $5.00 target price on shares of Hoth Therapeutics in a report on Monday, August 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Hoth Therapeutics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.50.

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.