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

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 633,400 shares, an increase of 117.4% from the December 31st total of 291,300 shares. Based on an average daily trading volume, of 8,650,000 shares, the short-interest ratio is presently 0.1 days. Approximately 9.3% of the shares of the stock are short sold.

Hoth Therapeutics Stock Performance

Shares of HOTH stock traded down $0.02 during midday trading on Friday, hitting $1.26. 597,456 shares of the company were exchanged, compared to its average volume of 25,737,973. The firm’s 50 day moving average price is $1.08 and its two-hundred day moving average price is $0.92. The firm has a market capitalization of $8.69 million, a P/E ratio of -0.95 and a beta of 0.75. Hoth Therapeutics has a 52 week low of $0.58 and a 52 week high of $3.80.

Hoth Therapeutics (NASDAQ:HOTH) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.01). Analysts expect that Hoth Therapeutics will post -1.36 EPS for the current year.

Institutional Investors Weigh In On Hoth Therapeutics

A hedge fund recently bought a new stake in Hoth Therapeutics stock. Virtu Financial LLC purchased a new position in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned 0.47% of Hoth Therapeutics at the end of the most recent quarter. 7.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on HOTH shares. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Hoth Therapeutics in a research note on Thursday, January 23rd. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Hoth Therapeutics in a research note on Tuesday, January 7th. Finally, Benchmark reissued a “speculative buy” rating and issued a $3.00 target price on shares of Hoth Therapeutics in a research note on Friday, October 11th.

About Hoth Therapeutics

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.