Pelthos Therapeutics (NYSEAMERICAN:PTHS) Director Sells $16,673.24 in Stock

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Director Peter Greenleaf sold 797 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $20.92, for a total value of $16,673.24. Following the completion of the sale, the director directly owned 24,681 shares of the company’s stock, valued at $516,326.52. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pelthos Therapeutics Price Performance

NYSEAMERICAN:PTHS opened at $22.90 on Thursday. The company has a market cap of $76.94 million, a price-to-earnings ratio of -1.10 and a beta of 3.93. Pelthos Therapeutics Inc. has a 1 year low of $9.00 and a 1 year high of $54.29. The company has a 50 day moving average of $22.76. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.05 and a quick ratio of 1.15.

Institutional Investors Weigh In On Pelthos Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of PTHS. Geode Capital Management LLC raised its holdings in shares of Pelthos Therapeutics by 31.9% in the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock worth $422,000 after buying an additional 3,295 shares during the period. Knott David M Jr raised its holdings in shares of Pelthos Therapeutics by 215.5% in the fourth quarter. Knott David M Jr now owns 19,281 shares of the company’s stock worth $598,000 after buying an additional 13,169 shares during the period. Persistent Asset Partners Ltd raised its holdings in shares of Pelthos Therapeutics by 150.0% in the fourth quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock worth $186,000 after buying an additional 3,604 shares during the period. Diadema Partners LP raised its holdings in shares of Pelthos Therapeutics by 138.1% in the fourth quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after buying an additional 14,502 shares during the period. Finally, Cantor Fitzgerald L. P. purchased a new stake in shares of Pelthos Therapeutics in the fourth quarter worth approximately $1,085,000. 77.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on PTHS. Roth Mkm lowered their price objective on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Cantor Fitzgerald began coverage on Pelthos Therapeutics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $50.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Pelthos Therapeutics in a research note on Thursday, March 19th. Piper Sandler assumed coverage on Pelthos Therapeutics in a research note on Friday, February 27th. They issued an “overweight” rating and a $48.00 price objective for the company. Finally, Zacks Research upgraded Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 24th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Pelthos Therapeutics Company Profile

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).