Hoth Therapeutics (NASDAQ:HOTH) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Hoth Therapeutics (NASDAQ:HOTH) from a buy rating to a hold rating in a research report released on Wednesday morning, 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. Hoth Therapeutics has a fifty-two week low of $2.31 and a fifty-two week high of $7.25. The firm’s 50 day moving average is $2.69 and its two-hundred day moving average is $3.52.

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

In related news, major shareholder Anthony Hayes sold 400,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $1.25, for a total transaction of $500,000.00. Following the completion of the sale, the insider now directly owns 1,130,674 shares of the company’s stock, valued at approximately $1,413,342.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.27% of the stock is currently owned by company insiders.

An institutional investor recently bought a new position in Hoth Therapeutics stock. Wedbush Securities Inc. purchased a new stake in shares of Hoth Therapeutics Inc (NASDAQ:HOTH) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 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. 0.24% of the stock is owned by hedge funds and other institutional investors.

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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