Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Expands By 143.8%

Hoth Therapeutics, Inc. (NASDAQ:HOTH) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 783,318 shares, a growth of 143.8% from the January 15th total of 321,350 shares. Currently, 5.4% of the company’s shares are short sold. Based on an average daily volume of 903,297 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 903,297 shares, the days-to-cover ratio is presently 0.9 days. Currently, 5.4% of the company’s shares are short sold.

Institutional Investors Weigh In On Hoth Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Hoth Therapeutics by 8.0% during the 2nd quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock valued at $143,000 after purchasing an additional 9,071 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Hoth Therapeutics in the third quarter worth approximately $184,000. Citadel Advisors LLC bought a new position in shares of Hoth Therapeutics in the third quarter valued at approximately $232,000. Lido Advisors LLC bought a new position in shares of Hoth Therapeutics in the third quarter valued at approximately $32,000. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of Hoth Therapeutics during the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 7.08% of the company’s stock.

Hoth Therapeutics Price Performance

Shares of NASDAQ:HOTH traded up $0.05 during trading on Thursday, reaching $0.98. 895,742 shares of the stock were exchanged, compared to its average volume of 706,025. Hoth Therapeutics has a 1-year low of $0.66 and a 1-year high of $2.12. The stock has a fifty day moving average of $1.03 and a two-hundred day moving average of $1.27. The firm has a market cap of $15.20 million, a price-to-earnings ratio of -0.92 and a beta of 0.56.

Hoth Therapeutics (NASDAQ:HOTH) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.20). Sell-side analysts forecast that Hoth Therapeutics will post -1.36 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on HOTH. D. Boral Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Hoth Therapeutics in a report on Thursday, December 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Hoth Therapeutics in a research note on Monday, December 22nd. Finally, Wall Street Zen downgraded shares of Hoth Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Hoth Therapeutics Company Profile

Hoth Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the acquisition, licensing and development of novel therapies for dermatological, central nervous system and other debilitating conditions. The company’s strategy emphasizes in-licensing late preclinical or early clinical assets with promising pharmacological profiles and leveraging formulation science to optimize delivery. Core to its approach is the design of topical and localized administration platforms intended to enhance drug penetration, sustain release and reduce systemic exposure.

Hoth’s development pipeline encompasses multiple candidate programs addressing high-unmet-need areas such as atopic dermatitis, epidermolysis bullosa and oral mucositis.