Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Declines By 36.6%
by Mitch Edgeman · The Markets DailyHoth Therapeutics, Inc. (NASDAQ:HOTH – Get Free Report) saw a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 673,089 shares, a decrease of 36.6% from the February 26th total of 1,061,221 shares. Approximately 4.7% of the company’s shares are short sold. Based on an average daily volume of 543,945 shares, the days-to-cover ratio is currently 1.2 days.
Institutional Investors Weigh In On Hoth Therapeutics
A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Hoth Therapeutics by 8.0% in the second 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 in the last quarter. Virtu Financial LLC bought a new position in shares of Hoth Therapeutics during the third quarter worth about $184,000. Citadel Advisors LLC bought a new position in shares of Hoth Therapeutics during the third quarter worth about $232,000. Lido Advisors LLC acquired a new stake in Hoth Therapeutics in the 3rd quarter valued at approximately $32,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in Hoth Therapeutics in the 3rd quarter valued at approximately $51,000. Institutional investors and hedge funds own 7.08% of the company’s stock.
Hoth Therapeutics Price Performance
HOTH traded down $0.03 during mid-day trading on Friday, hitting $0.81. The stock had a trading volume of 161,131 shares, compared to its average volume of 428,229. The stock’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $1.20. The firm has a market capitalization of $12.49 million, a price-to-earnings ratio of -0.90 and a beta of 0.50. Hoth Therapeutics has a 1-year low of $0.66 and a 1-year high of $2.12.
Hoth Therapeutics (NASDAQ:HOTH – Get Free Report) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.06). As a group, research analysts expect that Hoth Therapeutics will post -1.36 earnings per share for the current fiscal year.
Analysts Set New Price Targets
HOTH has been the subject of a number of analyst reports. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Hoth Therapeutics in a research note on Wednesday. Wall Street Zen upgraded Hoth Therapeutics to a “sell” rating in a report on Saturday, March 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Hoth Therapeutics in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Hoth Therapeutics currently has an average rating of “Hold” and a consensus target price of $5.00.
View Our Latest Stock Analysis on Hoth Therapeutics
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.