Hoth Therapeutics, Inc. (NASDAQ:HOTH) Short Interest Down 29.1% in February

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 231,500 shares, a decline of 29.1% from the January 31st total of 326,500 shares. Based on an average trading volume of 8,370,000 shares, the short-interest ratio is presently 0.0 days. Currently, 1.8% of the shares of the company are sold short.

Institutional Trading of Hoth Therapeutics

An institutional investor recently raised its position in Hoth Therapeutics stock. Geode Capital Management LLC increased its stake in Hoth Therapeutics, Inc. (NASDAQ:HOTH) by 15.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,946 shares of the company’s stock after acquiring an additional 13,038 shares during the quarter. Geode Capital Management LLC owned approximately 1.39% of Hoth Therapeutics worth $72,000 at the end of the most recent quarter. 7.08% of the stock is owned by hedge funds and other institutional investors.

Hoth Therapeutics Stock Performance

HOTH stock traded down $0.12 on Wednesday, reaching $1.13. The company had a trading volume of 2,824,872 shares, compared to its average volume of 12,758,933. The company has a market cap of $7.77 million, a P/E ratio of -0.85 and a beta of 0.84. The company’s fifty day moving average is $1.20 and its 200 day moving average is $0.98. Hoth Therapeutics has a 1 year low of $0.58 and a 1 year high of $3.80.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Hoth Therapeutics in a research note on Thursday, January 23rd. D. Boral Capital reissued a “buy” rating and issued a $5.00 target price on shares of Hoth Therapeutics in a research note on Tuesday.

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.