Hoth Therapeutics Inc (NASDAQ:HOTH) Sees Large Increase in Short Interest

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Hoth Therapeutics Inc (NASDAQ:HOTH) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 13,600 shares, an increase of 15.3% from the May 30th total of 11,800 shares. Based on an average trading volume of 17,300 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the company’s stock are short sold.

Shares of NASDAQ:HOTH traded down $0.30 during mid-day trading on Friday, hitting $5.23. 6,249 shares of the company traded hands, compared to its average volume of 13,423. Hoth Therapeutics has a 12-month low of $4.41 and a 12-month high of $13.88. The firm’s 50-day moving average price is $6.00.

Separately, Laidlaw assumed coverage on Hoth Therapeutics in a research report on Monday, May 20th. They set a “buy” rating and a $10.00 target price on the stock.

Hoth Therapeutics Company Profile

Hoth Therapeutics, Inc, a development stage biopharmaceutical company, focuses on developing targeted therapeutics for atopic dermatitis. It intends to use the BioLexa Platform to develop 2 topical cream products that treat eczema and reduces post-procedure infections for patients undergoing aesthetic dermatology procedures.

Further Reading: Insider Trading – What You Need to Know

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