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

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

Wall Street Analysts Forecast Growth

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

Hoth Therapeutics Stock Performance

Shares of HOTH stock traded down $0.12 during trading hours on Wednesday, hitting $1.13. 2,824,872 shares of the company were exchanged, compared to its average volume of 12,758,933. Hoth Therapeutics has a fifty-two week low of $0.58 and a fifty-two week high of $3.80. The firm has a market cap of $7.77 million, a P/E ratio of -0.85 and a beta of 0.84. The company has a 50 day simple moving average of $1.20 and a two-hundred day simple moving average of $0.98.

Institutional Trading of Hoth Therapeutics

An institutional investor recently bought a new position in Hoth Therapeutics stock. Virtu Financial LLC bought a new position in Hoth Therapeutics, Inc. (NASDAQ:HOTH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,636 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned approximately 0.47% of Hoth Therapeutics as of its most recent SEC filing. 7.08% of the stock is owned by hedge funds and other institutional investors.

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.