Hoth Therapeutics, Inc. (NASDAQ:HOTH) Sees Significant Drop in Short Interest

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 326,500 shares, a drop of 50.5% from the January 15th total of 659,200 shares. Approximately 4.8% of the shares of the company are short sold. Based on an average daily volume of 8,520,000 shares, the days-to-cover ratio is currently 0.0 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 third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 and Exchange Commission (SEC). 7.08% of the stock is currently owned by institutional investors and hedge funds.

Hoth Therapeutics Stock Performance

HOTH stock opened at $1.13 on Friday. The stock has a market capitalization of $7.80 million, a price-to-earnings ratio of -0.86 and a beta of 0.80. Hoth Therapeutics has a 1 year low of $0.58 and a 1 year high of $3.80. The stock’s fifty day moving average is $1.15 and its two-hundred day moving average is $0.94.

Hoth Therapeutics (NASDAQ:HOTH) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.01). As a group, analysts predict that Hoth Therapeutics will post -1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Hoth Therapeutics in a research note on Thursday, January 23rd. D. Boral Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Hoth Therapeutics in a research note on Tuesday.

About Hoth Therapeutics

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.