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

Hoth Therapeutics, Inc. (NASDAQ:HOTH) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 5,721,728 shares, a growth of 663.1% from the March 31st total of 749,807 shares. Currently, 32.1% of the company’s shares are short sold. Based on an average daily volume of 13,373,342 shares, the short-interest ratio is presently 0.4 days.

Hoth Therapeutics Stock Performance

Shares of NASDAQ:HOTH traded up $0.01 during midday trading on Friday, hitting $0.81. The company’s stock had a trading volume of 477,774 shares, compared to its average volume of 7,120,768. The stock has a market capitalization of $15.49 million, a price-to-earnings ratio of -0.90 and a beta of 0.60. The stock’s 50 day simple moving average is $0.86 and its 200 day simple moving average is $1.05. 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 issued its quarterly earnings results on Friday, March 27th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.06).

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Hoth Therapeutics by 8.0% during the second quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock valued at $143,000 after purchasing an additional 9,071 shares in the last quarter. Lido Advisors LLC acquired a new position in shares of Hoth Therapeutics during the third quarter worth approximately $32,000. Kestra Private Wealth Services LLC acquired a new position in shares of Hoth Therapeutics during the third quarter worth approximately $51,000. Virtu Financial LLC acquired a new position in shares of Hoth Therapeutics during the third quarter worth approximately $184,000. Finally, Citadel Advisors LLC bought a new stake in shares of Hoth Therapeutics during the third quarter worth approximately $232,000. Institutional investors own 7.08% of the company’s stock.

Analyst Upgrades and Downgrades

HOTH has been the topic of a number of recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Hoth Therapeutics in a research report on Wednesday, March 25th. Wall Street Zen raised Hoth Therapeutics to a “sell” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.00.

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.