Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Sees Large Decline in Short Interest

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 21,051 shares, a drop of 44.8% from the May 31st total of 38,114 shares. Based on an average trading volume of 16,261 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.7% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, Director Todd C. Davis acquired 35,948 shares of Pelthos Therapeutics stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $27.82 per share, with a total value of $1,000,073.36. Following the completion of the purchase, the director owned 75,834 shares in the company, valued at approximately $2,109,701.88. The trade was a 90.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Pelthos Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC purchased a new stake in Pelthos Therapeutics during the fourth quarter valued at about $343,000. Geode Capital Management LLC lifted its stake in shares of Pelthos Therapeutics by 31.9% in the 4th quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock valued at $422,000 after acquiring an additional 3,295 shares during the last quarter. Knott David M Jr boosted its holdings in Pelthos Therapeutics by 215.5% during the 4th quarter. Knott David M Jr now owns 19,281 shares of the company’s stock valued at $598,000 after acquiring an additional 13,169 shares during the period. Diadema Partners LP increased its stake in Pelthos Therapeutics by 138.1% in the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after purchasing an additional 14,502 shares during the period. Finally, Cantor Fitzgerald L. P. bought a new stake in Pelthos Therapeutics in the fourth quarter valued at approximately $1,085,000. Institutional investors own 77.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PTHS shares. HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Pelthos Therapeutics in a report on Thursday, March 19th. Oppenheimer upped their price target on shares of Pelthos Therapeutics from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Zacks Research upgraded Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Cantor Fitzgerald started coverage on Pelthos Therapeutics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $50.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.80.

Pelthos Therapeutics Stock Performance

NYSEAMERICAN PTHS opened at $25.77 on Friday. Pelthos Therapeutics has a 52-week low of $13.88 and a 52-week high of $54.29. The stock’s fifty day moving average is $26.66. The company has a market cap of $89.68 million, a P/E ratio of -1.25 and a beta of 3.10. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.79 and a quick ratio of 1.86.

Pelthos Therapeutics (NYSEAMERICAN:PTHS) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($3.09) EPS for the quarter. The firm had revenue of $10.91 million during the quarter. As a group, analysts forecast that Pelthos Therapeutics will post -12.63 EPS for the current fiscal year.

About Pelthos Therapeutics

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).