Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Rises By 117.4%

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

Hedge Funds Weigh In On Hoth Therapeutics

An institutional investor recently bought a new position in Hoth Therapeutics stock. Virtu Financial LLC bought a new position in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned approximately 0.47% of Hoth Therapeutics at the end of the most recent quarter. 7.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Hoth Therapeutics Price Performance

Hoth Therapeutics stock traded down $0.02 during midday trading on Friday, reaching $1.26. 597,477 shares of the company traded hands, compared to its average volume of 25,738,012. Hoth Therapeutics has a 12 month low of $0.58 and a 12 month high of $3.80. The firm has a market capitalization of $8.69 million, a price-to-earnings ratio of -0.95 and a beta of 0.75. The business has a 50 day moving average of $1.08 and a two-hundred day moving average of $0.92.

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

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.