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

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 1,093,560 shares, an increase of 39.6% from the January 29th total of 783,318 shares. Currently, 7.6% of the shares of the stock are sold short. Based on an average daily volume of 750,581 shares, the short-interest ratio is presently 1.5 days. Based on an average daily volume of 750,581 shares, the short-interest ratio is presently 1.5 days. Currently, 7.6% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Hoth Therapeutics Stock Down 2.9%

Shares of Hoth Therapeutics stock opened at $1.01 on Monday. The stock has a market cap of $15.67 million, a price-to-earnings ratio of -0.95 and a beta of 0.50. Hoth Therapeutics has a twelve month low of $0.66 and a twelve month high of $2.12. The company’s fifty day moving average is $1.00 and its 200 day moving average is $1.24.

Hedge Funds Weigh In On Hoth Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Lido Advisors LLC acquired a new position in shares of Hoth Therapeutics in the third quarter worth approximately $32,000. Kestra Private Wealth Services LLC bought a new position in Hoth Therapeutics during the 3rd quarter worth approximately $51,000. Geode Capital Management LLC lifted its position in shares of Hoth Therapeutics by 8.0% in 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 during the period. Virtu Financial LLC bought a new stake in shares of Hoth Therapeutics in the 3rd quarter valued at $184,000. Finally, Citadel Advisors LLC bought a new stake in shares of Hoth Therapeutics in the 3rd quarter valued at $232,000. 7.08% of the stock is currently owned by institutional investors.

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.