Hoth Therapeutics, Inc. (NASDAQ:HOTH) Sees Large Growth in Short Interest

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 1,093,560 shares, a growth of 39.6% from the January 29th total of 783,318 shares. Based on an average daily volume of 750,581 shares, the days-to-cover ratio is currently 1.5 days. Approximately 7.6% of the shares of the company are sold short. Approximately 7.6% of the shares of the company are sold short. Based on an average daily volume of 750,581 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On Hoth Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Hoth Therapeutics by 8.0% during the 2nd quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock worth $143,000 after buying an additional 9,071 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Hoth Therapeutics in the third quarter worth about $184,000. Citadel Advisors LLC bought a new position in shares of Hoth Therapeutics in the third quarter worth about $232,000. Lido Advisors LLC acquired a new stake in shares of Hoth Therapeutics in the 3rd quarter valued at approximately $32,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Hoth Therapeutics during the 3rd quarter valued at approximately $51,000. Institutional investors own 7.08% of the company’s stock.

Hoth Therapeutics Trading Down 2.9%

Shares of Hoth Therapeutics stock opened at $1.01 on Monday. The company has a market cap of $15.67 million, a PE ratio of -0.95 and a beta of 0.50. The company has a 50 day moving average of $1.00 and a 200-day moving average of $1.24. Hoth Therapeutics has a 1-year low of $0.66 and a 1-year high of $2.12.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Hoth Therapeutics in a research report on Monday, December 22nd. Wall Street Zen downgraded Hoth Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, D. Boral Capital restated a “buy” rating and set a $5.00 price objective on shares of Hoth Therapeutics in a research note on Thursday, December 4th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hoth Therapeutics has an average rating of “Hold” and a consensus price target of $5.00.

About Hoth Therapeutics

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.