Hoth Therapeutics, Inc. (NASDAQ:HOTH) Sees Significant Drop in Short Interest

Hoth Therapeutics, Inc. (NASDAQ:HOTH) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 326,500 shares, a drop of 50.5% from the January 15th total of 659,200 shares. Based on an average trading volume of 8,520,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.8% of the company’s stock are sold short.

Analyst Ratings Changes

Several analysts have issued reports on the stock. D. Boral Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Hoth Therapeutics in a research report on Tuesday. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Hoth Therapeutics in a research report on Thursday, January 23rd.

Hedge Funds Weigh In On Hoth Therapeutics

A hedge fund recently bought a new stake in Hoth Therapeutics stock. Virtu Financial LLC acquired a new position in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.47% of Hoth Therapeutics at the end of the most recent reporting period. Institutional investors own 7.08% of the company’s stock.

Hoth Therapeutics Trading Up 5.6 %

HOTH stock opened at $1.13 on Friday. Hoth Therapeutics has a twelve month low of $0.58 and a twelve month high of $3.80. The company has a market capitalization of $7.80 million, a P/E ratio of -0.86 and a beta of 0.80. The firm has a 50 day simple moving average of $1.15 and a 200-day simple moving average of $0.94.

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). On average, research analysts predict that Hoth Therapeutics will post -1.36 EPS for the current year.

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.