Hoth Therapeutics (NASDAQ:HOTH) Stock Price Down 1.8% – Here’s Why

Hoth Therapeutics, Inc. (NASDAQ:HOTH)’s share price dropped 1.8% during trading on Friday . The stock traded as low as $0.6966 and last traded at $0.73. Approximately 928,410 shares changed hands during trading, a decline of 87% from the average daily volume of 7,001,222 shares. The stock had previously closed at $0.7432.

Analysts Set New Price Targets

HOTH has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Hoth Therapeutics in a research note on Monday, December 22nd. D. Boral Capital reiterated a “buy” rating and set a $5.00 target price on shares of Hoth Therapeutics in a research note on Wednesday, March 25th. Finally, Wall Street Zen upgraded Hoth Therapeutics to a “sell” rating in a research note on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Hoth Therapeutics Stock Down 1.8%

The stock has a market capitalization of $11.88 million, a P/E ratio of -0.81 and a beta of 0.60. The company has a 50 day moving average of $0.88 and a 200-day moving average of $1.08.

Hoth Therapeutics (NASDAQ:HOTH) last posted its earnings results on Friday, March 27th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.06). Equities analysts forecast that Hoth Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Hoth Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Lido Advisors LLC bought a new stake in Hoth Therapeutics in the third quarter valued at $32,000. Kestra Private Wealth Services LLC bought a new stake in Hoth Therapeutics in the third quarter valued at $51,000. Virtu Financial LLC bought a new stake in Hoth Therapeutics in the third quarter valued at $184,000. Geode Capital Management LLC lifted its stake in Hoth Therapeutics by 8.0% in the second quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock valued at $143,000 after buying an additional 9,071 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Hoth Therapeutics in the third quarter valued at $232,000. 7.08% of the stock is currently owned by institutional investors.

About Hoth Therapeutics

Hoth Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the acquisition, licensing and development of novel therapies for dermatological, central nervous system and other debilitating conditions. The company’s strategy emphasizes in-licensing late preclinical or early clinical assets with promising pharmacological profiles and leveraging formulation science to optimize delivery. Core to its approach is the design of topical and localized administration platforms intended to enhance drug penetration, sustain release and reduce systemic exposure.

Hoth’s development pipeline encompasses multiple candidate programs addressing high-unmet-need areas such as atopic dermatitis, epidermolysis bullosa and oral mucositis.