Hoth Therapeutics, Inc. (NASDAQ:HOTH) Short Interest Update

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 797,306 shares, a decline of 86.1% from the April 15th total of 5,721,728 shares. Approximately 4.5% of the shares of the company are short sold. Based on an average trading volume of 696,427 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HOTH. Lido Advisors LLC bought a new position in shares of Hoth Therapeutics during the third quarter worth approximately $32,000. Kestra Private Wealth Services LLC bought a new stake in shares of Hoth Therapeutics during the 3rd quarter valued at $51,000. Virtu Financial LLC bought a new stake in shares of Hoth Therapeutics during the 3rd quarter valued at $184,000. Geode Capital Management LLC grew its holdings in shares of Hoth Therapeutics by 8.0% during the 2nd quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock worth $143,000 after purchasing an additional 9,071 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Hoth Therapeutics in the third quarter worth $232,000. Institutional investors and hedge funds own 7.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Hoth Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. D. Boral Capital reissued a “buy” rating and issued a $5.00 price objective on shares of Hoth Therapeutics in a research report on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Hoth Therapeutics in a research note on Friday, April 24th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Hoth Therapeutics Stock Performance

NASDAQ:HOTH traded up $0.00 during mid-day trading on Tuesday, hitting $0.66. 204,884 shares of the stock were exchanged, compared to its average volume of 1,981,746. The firm’s 50-day simple moving average is $0.81 and its 200 day simple moving average is $1.00. The stock has a market capitalization of $12.68 million, a price-to-earnings ratio of -0.74 and a beta of 0.57. Hoth Therapeutics has a fifty-two week low of $0.49 and a fifty-two week high of $2.12.

Hoth Therapeutics (NASDAQ:HOTH) last posted its quarterly earnings data on Friday, March 27th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.06).

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.