Tharimmune (NASDAQ:THAR) Trading Down 4.1% – Here’s Why

Shares of Tharimmune, Inc. (NASDAQ:THAR) fell 4.1% on Friday . The company traded as low as $2.77 and last traded at $2.79. 340,682 shares were traded during trading, a decline of 36% from the average session volume of 532,708 shares. The stock had previously closed at $2.91.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on THAR shares. Wall Street Zen raised shares of Tharimmune from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tharimmune in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tharimmune presently has an average rating of “Sell”.

Tharimmune Price Performance

The firm has a market capitalization of $101.67 million, a price-to-earnings ratio of -0.70 and a beta of 1.40. The business’s 50-day moving average price is $2.79 and its 200 day moving average price is $2.71.

Tharimmune (NASDAQ:THAR) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.09.

Institutional Trading of Tharimmune

A number of hedge funds and other institutional investors have recently modified their holdings of THAR. XTX Topco Ltd purchased a new position in Tharimmune in the second quarter valued at about $25,000. Drucker Wealth 3.0 LLC acquired a new position in shares of Tharimmune in the 3rd quarter valued at approximately $29,000. Finally, Franklin Resources Inc. acquired a new position in shares of Tharimmune in the 2nd quarter valued at approximately $88,000. 1.16% of the stock is owned by hedge funds and other institutional investors.

About Tharimmune

Tharimmune, Inc, a clinical-stage biotechnology company, engages in the development of therapeutic candidates for rare, inflammatory, and oncologic diseases. The company's pre-clinical immuno-oncology pipeline includes TH104, a product candidate for the treatment of liver-related and other pruritogenic inflammatory conditions; TH3215 and TH0059 that are product candidates used to treat various solid tumors; and TH1940, which targets programmed cell death protein 1 (PD-1). It has a research collaboration and product license agreement with Minotaur Therapeutics, Inc for the development of proprietary targeted biologics; and Washington University in St.