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

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

Institutional Trading of Hoth Therapeutics

A hedge fund recently bought a new stake in Hoth Therapeutics stock. Virtu Financial LLC purchased a new position in Hoth Therapeutics, Inc. (NASDAQ:HOTH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned 0.47% of Hoth Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 7.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on HOTH shares. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Hoth Therapeutics in a report on Tuesday, January 7th. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Hoth Therapeutics in a research report on Monday, November 4th. Finally, Benchmark reissued a “speculative buy” rating and set a $3.00 price target on shares of Hoth Therapeutics in a report on Friday, October 11th.

Hoth Therapeutics Stock Performance

NASDAQ:HOTH traded up $0.07 during mid-day trading on Thursday, reaching $1.58. 1,180,044 shares of the company’s stock were exchanged, compared to its average volume of 50,088,301. The firm has a market capitalization of $10.90 million, a PE ratio of -1.20 and a beta of 0.75. Hoth Therapeutics has a one year low of $0.58 and a one year high of $3.80. The business’s fifty day simple moving average is $0.97 and its two-hundred day simple moving average is $0.89.

Hoth Therapeutics (NASDAQ:HOTH) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.01). As a group, equities research analysts forecast that Hoth Therapeutics will post -1.18 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.