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

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 321,350 shares, a decrease of 12.7% from the December 31st total of 368,262 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 383,032 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 383,032 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HOTH. D. Boral Capital reissued a “buy” rating and issued a $5.00 price objective on shares of Hoth Therapeutics in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Hoth Therapeutics in a research note on Monday, December 22nd. Finally, Wall Street Zen lowered shares of Hoth Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Hoth Therapeutics currently has an average rating of “Hold” and a consensus price target of $5.00.

Hoth Therapeutics Stock Performance

Hoth Therapeutics stock opened at $0.88 on Tuesday. The firm’s 50 day moving average price is $1.08 and its two-hundred day moving average price is $1.29. Hoth Therapeutics has a twelve month low of $0.66 and a twelve month high of $2.12. The firm has a market cap of $13.59 million, a PE ratio of -0.83 and a beta of 0.56.

Hoth Therapeutics (NASDAQ:HOTH) last issued its earnings results on Wednesday, November 12th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.20). Equities analysts anticipate that Hoth Therapeutics will post -1.36 EPS for the current fiscal year.

Institutional Trading of Hoth Therapeutics

Large investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in shares of Hoth Therapeutics in the 3rd quarter valued at approximately $232,000. Geode Capital Management LLC grew its holdings in Hoth Therapeutics by 8.0% during 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 during the last quarter. Virtu Financial LLC bought a new position in shares of Hoth Therapeutics in the third quarter valued at approximately $184,000. Kestra Private Wealth Services LLC bought a new position in shares of Hoth Therapeutics in the third quarter valued at approximately $51,000. Finally, Lido Advisors LLC acquired a new stake in shares of Hoth Therapeutics in the third quarter worth $32,000. Institutional investors own 7.08% of the company’s stock.

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.