It is often noted that investors increasingly look into stocks which gain momentum and one of the stocks has recently gained momentum is the Hoth Therapeutics Inc (NASDAQ:HOTH) stock.
Trading Data
On Tuesday, HOTH stock gained 2.72% to $0.6560 with more than 5.28 million shares, compared to its average volume of 4.12 million shares. The stock moved within a range of $0.6200 – 0.7285 after opening trading at $0.63.
Hoth Therapeutics Adds New Pipeline Program For Stroke, Brain Injury
The company is in the news today after it announced that it had been successful in adding a new asset in the form of HT-TBI. It is actually a point of care novel therapy that it meant for treating secondary brain injuries that had been brought about by traumatic brain injuries and ischemic stroke. It could well prove to be a major new acquisition for the company and hence, the fact that the stock has been gaining momentum is perhaps not a surprise.
Hoth also noted that the product is going to be developed in such a way so that it could work as ready to use drug device combination product that could also be used in non-healthcare settings. At this point in time, it may be a good idea for investors to keep an eye on the stock and also on some of the latest developments with regards to the development of this particular product. It remains to be seen if the stock can clock gains in the coming days.
Technical Data
HOTH stock is trading below the 20-Day and 200-Day Moving averages of $0.68 and $0.96 respectively. However, the stock is trading above the 50-Day moving average of $0.63.
