Insider Selling: Pelthos Therapeutics (NYSEAMERICAN:PTHS) Director Sells 558 Shares of Stock

Key Points

• Director Ezra Friedberg sold 558 shares on April 2 at an average price of $20.92 for $11,673.36, leaving him with 82,027 shares (a 0.68% reduction) and the trade was executed under a Rule 10b5-1 plan.
• Pelthos stock traded up to $24.38 (a $3.98 rise) on higher-than-average volume, with a market cap of about $81.9 million and a 52-week range of $9.00 to $54.29.
• Analysts are broadly positive—MarketBeat shows a consensus of "Moderate Buy" with an average target of $55—and institutional ownership is high (77.96%) after recent stake increases by several funds.

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS - Get Free Report) Director Ezra Friedberg sold 558 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $20.92, for a total value of $11,673.36. Following the sale, the director directly owned 82,027 shares in the company, valued at approximately $1,716,004.84. The trade was a 0.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pelthos Therapeutics Price Performance

Pelthos Therapeutics stock traded up $3.98 during trading hours on Monday, reaching $24.38. The stock had a trading volume of 28,715 shares, compared to its average volume of 8,812. The company has a market capitalization of $81.92 million, a P/E ratio of -1.17 and a beta of 3.93. The stock has a 50 day moving average of $22.86. Pelthos Therapeutics Inc. has a 52 week low of $9.00 and a 52 week high of $54.29. The company has a current ratio of 2.05, a quick ratio of 1.15 and a debt-to-equity ratio of 0.81.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTHS. Roth Mkm reduced their price target on Pelthos Therapeutics from $57.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. HC Wainwright restated a "buy" rating and set a $60.00 target price on shares of Pelthos Therapeutics in a research note on Thursday, March 19th. Cantor Fitzgerald started coverage on Pelthos Therapeutics in a research report on Wednesday, April 1st. They set an "overweight" rating and a $50.00 target price on the stock. Oppenheimer increased their price target on Pelthos Therapeutics from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Friday, March 20th. Finally, Zacks Research upgraded Pelthos Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 24th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Pelthos Therapeutics by 31.9% during the 4th quarter. Geode Capital Management LLC now owns 13,625 shares of the company's stock worth $422,000 after acquiring an additional 3,295 shares in the last quarter. Persistent Asset Partners Ltd boosted its position in Pelthos Therapeutics by 150.0% during the fourth quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company's stock worth $186,000 after purchasing an additional 3,604 shares in the last quarter. Millennium Management LLC acquired a new stake in Pelthos Therapeutics in the fourth quarter valued at approximately $343,000. Knott David M Jr raised its stake in shares of Pelthos Therapeutics by 215.5% during the 4th 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. Finally, Diadema Partners LP lifted its position in shares of Pelthos Therapeutics by 138.1% during the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company's stock valued at $775,000 after buying an additional 14,502 shares in the last quarter. Hedge funds and other institutional investors own 77.96% of the company's stock.

About Pelthos Therapeutics

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”).

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