Hoth Therapeutics, Inc. (NASDAQ:HOTH) Sees Significant Increase in Short Interest

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 412,600 shares, a growth of 53.4% from the September 30th total of 269,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately 3.3% of the shares of the stock are sold short. Approximately 3.3% of the shares of the stock are sold short. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hoth Therapeutics stock. Geode Capital Management LLC grew its position in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,575 shares of the company’s stock after purchasing an additional 9,071 shares during the period. Geode Capital Management LLC owned approximately 0.93% of Hoth Therapeutics worth $143,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 7.08% of the company’s stock.

Hoth Therapeutics Price Performance

Shares of HOTH opened at $1.40 on Tuesday. The firm has a market cap of $18.56 million, a P/E ratio of -1.31 and a beta of 0.63. Hoth Therapeutics has a 1 year low of $0.66 and a 1 year high of $3.80. The company has a 50 day simple moving average of $1.52 and a two-hundred day simple moving average of $1.28.

Hoth Therapeutics (NASDAQ:HOTH) last issued its earnings results on Tuesday, August 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.10. On average, sell-side analysts anticipate that Hoth Therapeutics will post -1.36 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HOTH. D. Boral Capital reissued a “buy” rating and issued a $5.00 price objective on shares of Hoth Therapeutics in a research note on Monday, August 18th. Wall Street Zen raised shares of Hoth Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hoth Therapeutics in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hoth Therapeutics has an average rating of “Hold” and a consensus price target of $4.50.

Hoth Therapeutics Company Profile

Hoth Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for unmet medical needs. It is involved in the development of HT-001, a topical formulation, which is in Phase II clinical trial for the treatment of patients with rash and skin disorders associated with initial and repeat courses of tyrosine kinase epidermal growth factor receptor inhibitor therapy; HT-KIT to treat mast-cell derived cancers and anaphylaxis; HT-TBI to treat traumatic brain injury and ischemic stroke; HT-ALZ for the treatment and/or prevention of Alzheimer's or other neuroinflammatory diseases; HT-004 for treatment of asthma and allergies using inhalational administration; HT-003 for the treatment of acne and psoriasis, as well as inflammatory bowel diseases; and HT-002, a novel peptide for treating COVID-19.