Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Sees Large Decline in Short Interest

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 21,051 shares, a decline of 44.8% from the May 31st total of 38,114 shares. Based on an average daily trading volume, of 16,261 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.7% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Pelthos Therapeutics in a report on Thursday, March 19th. Cantor Fitzgerald started coverage on Pelthos Therapeutics in a report on Wednesday, April 1st. They set an “overweight” rating and a $50.00 price objective on the stock. Oppenheimer raised their target price on Pelthos Therapeutics from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Zacks Research upgraded shares of Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 24th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.80.

Insider Buying and Selling

In other news, Director Todd C. Davis acquired 35,948 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $27.82 per share, with a total value of $1,000,073.36. Following the transaction, the director owned 75,834 shares in the company, valued at approximately $2,109,701.88. This trade represents a 90.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pelthos Therapeutics

A number of institutional investors have recently modified their holdings of PTHS. Persistent Asset Partners Ltd boosted its position in Pelthos Therapeutics by 150.0% during the fourth quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock worth $186,000 after purchasing an additional 3,604 shares during the period. Millennium Management LLC acquired a new stake in shares of Pelthos Therapeutics during the 4th quarter worth approximately $343,000. Pale Fire Capital SE increased its holdings in Pelthos Therapeutics by 59.5% in the 1st quarter. Pale Fire Capital SE now owns 12,919 shares of the company’s stock valued at $271,000 after buying an additional 4,819 shares during the period. Geode Capital Management LLC lifted its stake in Pelthos Therapeutics by 31.9% during the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock worth $422,000 after purchasing an additional 3,295 shares during the period. Finally, Knott David M Jr boosted its stake in Pelthos Therapeutics by 215.5% in the 4th quarter. Knott David M Jr now owns 19,281 shares of the company’s stock valued at $598,000 after buying an additional 13,169 shares in the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.

Pelthos Therapeutics Trading Down 8.0%

NYSEAMERICAN PTHS traded down $2.23 during trading hours on Thursday, reaching $25.77. 27,661 shares of the company traded hands, compared to its average volume of 15,222. The company has a quick ratio of 1.86, a current ratio of 2.79 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $89.68 million, a PE ratio of -1.25 and a beta of 3.09. Pelthos Therapeutics has a 12 month low of $13.88 and a 12 month high of $54.29. The stock has a 50 day simple moving average of $26.66.

Pelthos Therapeutics (NYSEAMERICAN:PTHS) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($3.09) earnings per share for the quarter. The company had revenue of $10.91 million for the quarter. On average, equities research analysts anticipate that Pelthos Therapeutics will post -12.63 earnings per share for the current year.

About Pelthos Therapeutics

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).