Hoth Therapeutics, Inc. (NASDAQ:HOTH) Short Interest Down 50.5% in January

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 326,500 shares, a decline of 50.5% from the January 15th total of 659,200 shares. Approximately 4.8% of the company’s shares are short sold. Based on an average daily volume of 8,520,000 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On Hoth Therapeutics

A hedge fund recently raised its stake in Hoth Therapeutics stock. Geode Capital Management LLC increased its holdings in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,946 shares of the company’s stock after purchasing an additional 13,038 shares during the quarter. Geode Capital Management LLC owned 1.39% of Hoth Therapeutics worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 7.08% of the company’s stock.

Hoth Therapeutics Stock Performance

HOTH opened at $1.13 on Friday. Hoth Therapeutics has a 52-week low of $0.58 and a 52-week high of $3.80. The stock has a market capitalization of $7.80 million, a PE ratio of -0.86 and a beta of 0.80. The stock’s 50 day moving average price is $1.15 and its 200-day moving average price is $0.94.

Hoth Therapeutics (NASDAQ:HOTH) last posted 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). Research analysts forecast that Hoth Therapeutics will post -1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HOTH shares. D. Boral Capital reaffirmed a “buy” rating and issued a $5.00 price target on shares of Hoth Therapeutics in a research note on Tuesday. HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Hoth Therapeutics in a research note on Thursday, January 23rd.

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.