Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Decreases By 24.8%

Hoth Therapeutics, Inc. (NASDAQ:HOTH) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 174,100 shares, a decline of 24.8% from the February 13th total of 231,500 shares. Based on an average daily trading volume, of 8,460,000 shares, the short-interest ratio is currently 0.0 days. Currently, 1.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HOTH. D. Boral Capital reiterated a “buy” rating and set a $5.00 price target on shares of Hoth Therapeutics in a report on Monday, March 10th. HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Hoth Therapeutics in a report on Thursday, January 23rd.

Hoth Therapeutics Price Performance

Shares of NASDAQ HOTH opened at $1.11 on Monday. Hoth Therapeutics has a one year low of $0.58 and a one year high of $3.80. The business’s fifty day moving average price is $1.26 and its 200-day moving average price is $1.00. The stock has a market capitalization of $7.66 million, a PE ratio of -0.84 and a beta of 0.84.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Hoth Therapeutics stock. Virtu Financial LLC purchased a new stake in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.47% of Hoth Therapeutics at the end of the most recent reporting period. 7.08% of the stock is currently owned by hedge funds and other institutional investors.

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.