Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Drops By 36.6%

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 673,089 shares, a decline of 36.6% from the February 26th total of 1,061,221 shares. Based on an average daily trading volume, of 543,945 shares, the days-to-cover ratio is currently 1.2 days. Currently, 4.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HOTH. D. Boral Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Hoth Therapeutics in a research note on Wednesday. Wall Street Zen raised shares of Hoth Therapeutics to a “sell” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Hoth Therapeutics in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.00.

Institutional Inflows and Outflows

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

Hoth Therapeutics Stock Performance

Shares of HOTH traded down $0.03 during mid-day trading on Friday, hitting $0.81. The company’s stock had a trading volume of 161,131 shares, compared to its average volume of 428,229. The stock’s 50-day moving average is $0.97 and its two-hundred day moving average is $1.20. The firm has a market capitalization of $12.49 million, a PE ratio of -0.90 and a beta of 0.50. Hoth Therapeutics has a one year low of $0.66 and a one year high of $2.12.

Hoth Therapeutics (NASDAQ:HOTH) last announced its earnings results on Friday, March 27th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.06). Analysts expect that Hoth Therapeutics will post -1.36 EPS for the current fiscal year.

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.