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

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 797,306 shares, a decrease of 86.1% from the April 15th total of 5,721,728 shares. Approximately 4.5% of the company’s shares are short sold. Based on an average daily volume of 696,427 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On Hoth Therapeutics

A number of institutional investors have recently added to or reduced their stakes in HOTH. Virtu Financial LLC bought a new position in shares of Hoth Therapeutics in the 3rd quarter valued at about $184,000. Citadel Advisors LLC acquired a new stake in Hoth Therapeutics in the 3rd quarter valued at about $232,000. DRW Securities LLC bought a new position in Hoth Therapeutics during the fourth quarter worth about $257,000. Geode Capital Management LLC grew its holdings in Hoth Therapeutics by 18.0% during the fourth quarter. Geode Capital Management LLC now owns 181,112 shares of the company’s stock worth $179,000 after purchasing an additional 27,577 shares during the period. Finally, Kestra Private Wealth Services LLC acquired a new position in Hoth Therapeutics during the third quarter worth approximately $51,000. 7.08% of the stock is currently owned by institutional investors and hedge funds.

Hoth Therapeutics Trading Up 0.4%

Shares of NASDAQ HOTH traded up $0.00 during midday trading on Tuesday, reaching $0.66. The company’s stock had a trading volume of 204,884 shares, compared to its average volume of 1,981,746. The stock has a 50 day simple moving average of $0.81 and a 200-day simple moving average of $1.00. The stock has a market capitalization of $12.68 million, a price-to-earnings ratio of -0.74 and a beta of 0.57. 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) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.06).

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HOTH shares. D. Boral Capital reaffirmed a “buy” rating and issued a $5.00 price target on shares of Hoth Therapeutics in a research note on Wednesday, March 25th. Wall Street Zen cut shares of Hoth Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hoth Therapeutics in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.