Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Grows By 117.4%

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the recipient of a significant 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 company’s stock are sold short. Based on an average daily trading volume, of 8,650,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Hoth Therapeutics stock. Virtu Financial LLC purchased a new stake in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned approximately 0.47% of Hoth Therapeutics at the end of the most recent reporting period. Institutional investors own 7.08% of the company’s stock.

Wall Street Analyst Weigh In

HOTH has been the subject of several analyst reports. D. Boral Capital reissued a “buy” rating and set a $5.00 price target on shares of Hoth Therapeutics in a research report on Tuesday, January 7th. Benchmark restated a “speculative buy” rating and issued a $3.00 price target on shares of Hoth Therapeutics in a research note on Friday, October 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Hoth Therapeutics in a research report on Monday, November 4th.

Hoth Therapeutics Trading Up 4.6 %

HOTH stock traded up $0.07 on Thursday, hitting $1.58. The company had a trading volume of 1,167,896 shares, compared to its average volume of 50,086,957. The stock has a market cap of $10.90 million, a price-to-earnings ratio of -1.20 and a beta of 0.75. Hoth Therapeutics has a 12-month low of $0.58 and a 12-month high of $3.80. The stock’s 50-day simple moving average is $0.97 and its 200 day simple moving average is $0.89.

Hoth Therapeutics (NASDAQ:HOTH) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.01). Research analysts forecast that Hoth Therapeutics will post -1.18 earnings per share for the current year.

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.