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

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

Hoth Therapeutics Stock Down 18.0 %

Shares of Hoth Therapeutics stock traded down $0.34 during mid-day trading on Tuesday, reaching $1.55. 2,232,869 shares of the stock traded hands, compared to its average volume of 62,283,051. The stock has a market capitalization of $10.70 million, a PE ratio of -1.17 and a beta of 0.75. The business has a 50-day moving average of $0.95 and a 200 day moving average of $0.88. Hoth Therapeutics has a fifty-two week low of $0.58 and a fifty-two week high of $3.80.

Hoth Therapeutics (NASDAQ:HOTH) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.01). On average, equities research analysts expect that Hoth Therapeutics will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Hoth Therapeutics

An institutional investor recently bought a new position in Hoth Therapeutics stock. Virtu Financial LLC acquired a new position in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.47% of Hoth Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 7.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.