Hoth Therapeutics, Inc. (NASDAQ:HOTH) Short Interest Up 62.7% in March

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 283,200 shares, an increase of 62.7% from the February 28th total of 174,100 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average trading volume of 8,500,000 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

HOTH has been the subject of a number of analyst reports. D. Boral Capital reissued a “buy” rating and set a $5.00 price objective on shares of Hoth Therapeutics in a research note on Monday, March 10th. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Hoth Therapeutics in a research report on Thursday, January 23rd.

Hoth Therapeutics Stock Up 3.0 %

Shares of HOTH traded up $0.03 during mid-day trading on Friday, hitting $1.03. 136,303 shares of the company’s stock traded hands, compared to its average volume of 3,426,124. The business’s 50-day moving average price is $1.13 and its 200-day moving average price is $1.01. Hoth Therapeutics has a 1 year low of $0.58 and a 1 year high of $3.80. The firm has a market capitalization of $7.11 million, a P/E ratio of -0.78 and a beta of 0.84.

Hoth Therapeutics (NASDAQ:HOTH) last announced its earnings results on Thursday, March 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Sell-side analysts anticipate that Hoth Therapeutics will post -1.36 earnings per share for the current fiscal year.

Institutional Investors 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 Hoth Therapeutics, Inc. (NASDAQ:HOTH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned approximately 0.47% of Hoth Therapeutics at the end of the most recent reporting period. Institutional investors own 7.08% of the company’s stock.

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.