Hoth Therapeutics, Inc. (NASDAQ:HOTH) Sees Significant Decline in Short Interest

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the recipient of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 231,500 shares, a decrease of 29.1% from the January 31st total of 326,500 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 8,370,000 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Hoth Therapeutics

A hedge fund recently bought a new stake in Hoth Therapeutics stock. Virtu Financial LLC acquired a new stake in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.47% of Hoth Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 7.08% of the company’s stock.

Hoth Therapeutics Price Performance

Hoth Therapeutics stock traded up $0.37 during midday trading on Tuesday, reaching $1.24. 11,179,898 shares of the company traded hands, compared to its average volume of 3,487,052. Hoth Therapeutics has a 12 month low of $0.58 and a 12 month high of $3.80. The business has a 50 day moving average of $1.19 and a two-hundred day moving average of $0.98. The firm has a market capitalization of $8.56 million, a price-to-earnings ratio of -0.94 and a beta of 0.80.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HOTH. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Hoth Therapeutics in a report on Thursday, January 23rd. D. Boral Capital restated a “buy” rating and issued a $5.00 price target on shares of Hoth Therapeutics in a research note on Tuesday.

Hoth Therapeutics Company Profile

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.