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

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

Hedge Funds Weigh In On Hoth Therapeutics

A hedge fund recently bought a new stake in Hoth Therapeutics stock. Virtu Financial LLC purchased a new position in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned 0.47% of Hoth Therapeutics as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 7.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. 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. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Hoth Therapeutics in a report on Monday, November 4th. Finally, D. Boral Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Hoth Therapeutics in a report on Tuesday, January 7th.

Hoth Therapeutics Price Performance

Hoth Therapeutics stock traded down $0.34 during mid-day trading on Tuesday, reaching $1.55. 2,232,869 shares of the company traded hands, compared to its average volume of 62,283,051. The firm’s fifty day moving average is $0.95 and its two-hundred day moving average is $0.88. The company has a market capitalization of $10.70 million, a price-to-earnings ratio of -1.17 and a beta of 0.75. Hoth Therapeutics has a fifty-two week low of $0.58 and a fifty-two week high of $3.80.

Hoth Therapeutics (NASDAQ:HOTH) last released its earnings results on Tuesday, November 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.01). As a group, equities research analysts predict that Hoth Therapeutics will post -1.18 earnings per share for the current year.

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.