Hoth Therapeutics Inc (NASDAQ:HOTH) Short Interest Down 71.3% in July

Hoth Therapeutics Inc (NASDAQ:HOTH) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 76,000 shares, a decrease of 71.3% from the June 30th total of 265,200 shares. Based on an average daily volume of 690,100 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.9% of the company’s shares are short sold.

Shares of NASDAQ HOTH opened at $2.73 on Friday. Hoth Therapeutics has a 1-year low of $2.31 and a 1-year high of $7.25. The business’s 50 day moving average is $2.69 and its 200-day moving average is $3.52.

Hoth Therapeutics (NASDAQ:HOTH) last issued its earnings results on Wednesday, May 13th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.01). Equities research analysts predict that Hoth Therapeutics will post -0.6 earnings per share for the current year.

Separately, Zacks Investment Research downgraded Hoth Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday.

In related news, major shareholder Anthony Hayes sold 400,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $1.25, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 1,130,674 shares in the company, valued at $1,413,342.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.27% of the company’s stock.

A hedge fund recently bought a new stake in Hoth Therapeutics stock. Wedbush Securities Inc. acquired a new stake in shares of Hoth Therapeutics Inc (NASDAQ:HOTH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 22,856 shares of the company’s stock, valued at approximately $59,000. Wedbush Securities Inc. owned approximately 0.17% of Hoth Therapeutics as of its most recent SEC filing. Institutional investors own 0.24% of the company’s stock.

About Hoth Therapeutics

Hoth Therapeutics, Inc, a development stage biopharmaceutical company, focuses on developing targeted therapeutics for atopic dermatitis. It intends to use the BioLexa Platform to develop 2 topical cream products that treat eczema and reduces post-procedure infections for patients undergoing aesthetic dermatology procedures.

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