Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Expands By 39.6%

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

Hedge Funds Weigh In On Hoth Therapeutics

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings 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 valued at $143,000 after purchasing an additional 9,071 shares during the last quarter. Lido Advisors LLC purchased a new position in shares of Hoth Therapeutics in the 3rd quarter worth $32,000. Kestra Private Wealth Services LLC acquired a new position in Hoth Therapeutics in the third quarter valued at $51,000. Virtu Financial LLC acquired a new position in Hoth Therapeutics in the third quarter valued at $184,000. Finally, Citadel Advisors LLC purchased a new stake in Hoth Therapeutics during the third quarter valued at about $232,000. Hedge funds and other institutional investors own 7.08% of the company’s stock.

Hoth Therapeutics Stock Performance

NASDAQ HOTH traded up $0.02 during trading hours on Wednesday, hitting $1.02. 414,399 shares of the company’s stock were exchanged, compared to its average volume of 579,678. The business’s 50 day moving average is $1.00 and its 200-day moving average is $1.24. Hoth Therapeutics has a 12-month low of $0.66 and a 12-month high of $2.12. The firm has a market capitalization of $15.82 million, a P/E ratio of -0.96 and a beta of 0.50.

Analysts Set New Price Targets

Several research firms have weighed in on HOTH. D. Boral Capital reissued a “buy” rating and set a $5.00 price target on shares of Hoth Therapeutics in a research report on Thursday, December 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Hoth Therapeutics in a research report on Monday, December 22nd. Finally, Wall Street Zen downgraded shares of Hoth Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Hoth Therapeutics currently 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.