Hoth Therapeutics, Inc. (NASDAQ:HOTH) Short Interest Down 29.1% in February

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the recipient of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 231,500 shares, a decline of 29.1% from the January 31st total of 326,500 shares. Based on an average trading volume of 8,370,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.8% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HOTH. D. Boral Capital reiterated a “buy” rating and set a $5.00 target price on shares of Hoth Therapeutics in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Hoth Therapeutics in a research report on Thursday, January 23rd.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hoth Therapeutics stock. Virtu Financial LLC acquired 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 & Exchange Commission. The institutional investor acquired 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 & Exchange Commission. Institutional investors own 7.08% of the company’s stock.

Hoth Therapeutics Price Performance

HOTH stock traded up $0.37 during midday trading on Tuesday, hitting $1.24. The stock had a trading volume of 11,179,898 shares, compared to its average volume of 3,487,052. The business has a 50-day moving average of $1.19 and a two-hundred day moving average of $0.98. The firm has a market cap of $8.56 million, a price-to-earnings ratio of -0.94 and a beta of 0.80. Hoth Therapeutics has a 52-week low of $0.58 and a 52-week high of $3.80.

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.