Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Sees Significant Growth in Short Interest

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 70,670 shares, an increase of 154.3% from the June 30th total of 27,790 shares. Based on an average daily trading volume, of 30,445 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.3% of the shares of the stock are short sold.

Pelthos Therapeutics Price Performance

Shares of NYSEAMERICAN:PTHS traded up $1.67 during trading on Monday, hitting $27.59. 91,427 shares of the stock were exchanged, compared to its average volume of 47,089. The company has a fifty day simple moving average of $27.07. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.79 and a quick ratio of 1.86. Pelthos Therapeutics has a 12-month low of $16.50 and a 12-month high of $37.50.

Pelthos Therapeutics (NYSEAMERICAN:PTHS) last released its quarterly earnings results on Thursday, May 14th. The company reported ($3.09) earnings per share for the quarter. The company had revenue of $10.91 million during the quarter. As a group, equities analysts forecast that Pelthos Therapeutics will post -12.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PTHS shares. Cantor Fitzgerald started coverage on shares of Pelthos Therapeutics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $50.00 target price on the stock. Oppenheimer increased their price target on shares of Pelthos Therapeutics from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.80.

Insider Buying and Selling at Pelthos Therapeutics

In other Pelthos Therapeutics news, Director Todd C. Davis acquired 35,948 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $27.82 per share, with a total value of $1,000,073.36. Following the completion of the acquisition, the director directly owned 75,834 shares of the company’s stock, valued at approximately $2,109,701.88. The trade was a 90.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 1,638 shares of company stock valued at $43,107 in the last quarter. 12.70% of the stock is owned by insiders.

Institutional Trading of Pelthos Therapeutics

Several large investors have recently bought and sold shares of the company. Pale Fire Capital SE increased its position in shares of Pelthos Therapeutics by 59.5% in the first quarter. Pale Fire Capital SE now owns 12,919 shares of the company’s stock valued at $271,000 after buying an additional 4,819 shares in the last quarter. Knott David M Jr boosted its position in shares of Pelthos Therapeutics by 9.3% in the 1st quarter. Knott David M Jr now owns 21,073 shares of the company’s stock worth $443,000 after buying an additional 1,792 shares in the last quarter. Ikarian Capital LLC boosted its position in shares of Pelthos Therapeutics by 309.5% in the 4th quarter. Ikarian Capital LLC now owns 255,758 shares of the company’s stock worth $7,928,000 after buying an additional 193,307 shares in the last quarter. Millennium Management LLC acquired a new stake in Pelthos Therapeutics in the 4th quarter valued at about $343,000. Finally, Boothbay Fund Management LLC grew its stake in Pelthos Therapeutics by 279.8% in the 4th quarter. Boothbay Fund Management LLC now owns 80,680 shares of the company’s stock valued at $2,501,000 after acquiring an additional 59,435 shares during the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.

Pelthos Therapeutics Company Profile

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).