Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Increases By 117.4%

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 633,400 shares, a growth of 117.4% from the December 31st total of 291,300 shares. Currently, 9.3% of the company’s stock are sold short. Based on an average daily volume of 8,650,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Hoth Therapeutics

An institutional investor recently bought a new position in Hoth Therapeutics stock. Virtu Financial LLC purchased a new stake in Hoth Therapeutics, Inc. (NASDAQ:HOTH) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned approximately 0.47% of Hoth Therapeutics as of its most recent SEC filing. 7.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. D. Boral Capital reissued a “buy” rating and set a $5.00 target price on shares of Hoth Therapeutics in a research note on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Hoth Therapeutics in a research report on Thursday, January 23rd. Finally, Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 price objective on shares of Hoth Therapeutics in a research report on Friday, October 11th.

Hoth Therapeutics Price Performance

Shares of HOTH traded down $0.05 during mid-day trading on Wednesday, hitting $1.24. 375,459 shares of the company’s stock were exchanged, compared to its average volume of 28,532,863. Hoth Therapeutics has a 52 week low of $0.58 and a 52 week high of $3.80. The company has a market cap of $8.56 million, a PE ratio of -0.94 and a beta of 0.75. The company has a 50-day simple moving average of $1.07 and a 200 day simple moving average of $0.92.

Hoth Therapeutics (NASDAQ:HOTH) last released its earnings results on Tuesday, November 12th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.01). On average, analysts anticipate that Hoth Therapeutics will post -1.18 earnings per share for the current year.

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.