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

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 673,089 shares, a drop of 36.6% from the February 26th total of 1,061,221 shares. Based on an average daily trading volume, of 543,945 shares, the short-interest ratio is currently 1.2 days. Currently, 4.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

HOTH has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Hoth Therapeutics in a report on Monday, December 22nd. Wall Street Zen upgraded Hoth Therapeutics to a “sell” rating in a research report on Saturday, March 7th. Finally, D. Boral Capital reissued a “buy” rating and set a $5.00 price objective on shares of Hoth Therapeutics in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.00.

Institutional Investors Weigh In On Hoth Therapeutics

Institutional investors have recently made changes to their positions in the company. DRW Securities LLC purchased a new position in shares of Hoth Therapeutics during the 4th quarter worth about $257,000. Geode Capital Management LLC raised its position in Hoth Therapeutics by 18.0% in the 4th quarter. Geode Capital Management LLC now owns 181,112 shares of the company’s stock worth $179,000 after purchasing an additional 27,577 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Hoth Therapeutics in the 3rd quarter worth about $51,000. Lido Advisors LLC bought a new stake in Hoth Therapeutics in the third quarter worth about $32,000. Finally, Citadel Advisors LLC bought a new stake in Hoth Therapeutics in the third quarter worth about $232,000. Institutional investors own 7.08% of the company’s stock.

Hoth Therapeutics Stock Down 6.7%

Shares of HOTH opened at $0.84 on Friday. The company has a market cap of $13.01 million, a PE ratio of -0.79 and a beta of 0.50. The business has a fifty day moving average of $0.98 and a 200 day moving average of $1.21. Hoth Therapeutics has a 52-week low of $0.66 and a 52-week high of $2.12.

Hoth Therapeutics Company Profile

Hoth Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the acquisition, licensing and development of novel therapies for dermatological, central nervous system and other debilitating conditions. The company’s strategy emphasizes in-licensing late preclinical or early clinical assets with promising pharmacological profiles and leveraging formulation science to optimize delivery. Core to its approach is the design of topical and localized administration platforms intended to enhance drug penetration, sustain release and reduce systemic exposure.

Hoth’s development pipeline encompasses multiple candidate programs addressing high-unmet-need areas such as atopic dermatitis, epidermolysis bullosa and oral mucositis.