Hoth Therapeutics (NASDAQ:HOTH) Shares Up 3.2%

Hoth Therapeutics, Inc. (NASDAQ:HOTH – Get Rating)’s share price shot up 3.2% during mid-day trading on Wednesday . The stock traded as high as $1.60 and last traded at $1.60. 55,712 shares changed hands during trading, a decline of 90% from the average session volume of 577,703 shares. The stock had previously closed at $1.55.

Analyst Ratings Changes

Several research firms recently issued reports on HOTH. Benchmark reaffirmed a “speculative buy” rating and set a $5.00 price target on shares of Hoth Therapeutics in a research note on Monday, April 10th. EF Hutton Acquisition Co. I decreased their price objective on shares of Hoth Therapeutics from $33.00 to $14.00 and set a “buy” rating for the company in a report on Monday, April 3rd.

Hoth Therapeutics Stock Performance

The company has a market capitalization of $5.25 million, a price-to-earnings ratio of -0.15 and a beta of 0.12. The company’s fifty day simple moving average is $1.87 and its two-hundred day simple moving average is $3.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of Hoth Therapeutics in the 4th quarter valued at about $87,000. HRT Financial LP acquired a new position in shares of Hoth Therapeutics in the 4th quarter valued at about $89,000. Acadian Asset Management LLC acquired a new position in shares of Hoth Therapeutics in the 1st quarter valued at about $80,000. Virtu Financial LLC boosted its holdings in shares of Hoth Therapeutics by 453.2% in the 2nd quarter. Virtu Financial LLC now owns 138,213 shares of the company’s stock valued at $58,000 after buying an additional 113,229 shares during the period. Finally, Armistice Capital LLC acquired a new position in shares of Hoth Therapeutics in the 4th quarter valued at about $1,092,000. 2.24% of the stock is owned by institutional investors and hedge funds.

About Hoth Therapeutics

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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 drug compound platform for the treatment of eczema.