Needham & Company LLC cut shares of Clarus Therapeutics (NASDAQ:CRXT – Get Rating) from a buy rating to a hold rating in a research report report published on Tuesday, The Fly reports.

CRXT has been the subject of several other research reports. Truist Financial dropped their price objective on Clarus Therapeutics from $7.00 to $3.00 and set a na rating for the company in a report on Tuesday, May 17th. Maxim Group cut Clarus Therapeutics from a buy rating to a hold rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $7.90.

Clarus Therapeutics Price Performance

Shares of CRXT stock opened at $0.18 on Tuesday. The stock has a market capitalization of $9.53 million, a PE ratio of -0.14 and a beta of 1.45. Clarus Therapeutics has a 1-year low of $0.17 and a 1-year high of $31.24. The business has a 50-day moving average of $0.34 and a 200 day moving average of $0.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Clarus Therapeutics in the 1st quarter valued at approximately $52,000. Millennium Management LLC lifted its stake in shares of Clarus Therapeutics by 334.7% in the 2nd quarter. Millennium Management LLC now owns 170,520 shares of the company's stock valued at $65,000 after purchasing an additional 131,292 shares during the period. Finally, Virtu Financial LLC lifted its stake in shares of Clarus Therapeutics by 824.1% in the 2nd quarter. Virtu Financial LLC now owns 188,086 shares of the company's stock valued at $72,000 after purchasing an additional 167,733 shares during the period. Hedge funds and other institutional investors own 19.50% of the company's stock.

About Clarus Therapeutics

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Clarus Therapeutics Holdings, Inc, a pharmaceutical company, focuses on the development and commercialization of oral testosterone replacement therapy in the United States. It offers JATENZO, a soft gel oral formulation of testosterone undecanoate for treating hypogonadal men. The company has a licensing agreement with HavaH Therapeutics for product to treat androgen therapies for inflammatory breast disease and certain forms of breast cancer; and license agreement with The Royal Institution for the Advancement of Learning/McGill University to develop and commercialize McGill's proprietary technology designed to treat conditions associated with CoQ10 deficiencies in humans.

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