Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Short Interest Down 44.8% in June

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 21,051 shares, a drop of 44.8% from the May 31st total of 38,114 shares. Based on an average trading volume of 16,261 shares, the short-interest ratio is currently 1.3 days. Approximately 0.7% of the company’s shares are sold short.

Insider Transactions at Pelthos Therapeutics

In related news, Director Todd C. Davis purchased 35,948 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $27.82 per share, with a total value of $1,000,073.36. Following the completion of the transaction, the director owned 75,834 shares of the company’s stock, valued at approximately $2,109,701.88. This trade represents a 90.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,228 shares of company stock valued at $48,412 in the last ninety days. 12.70% of the stock is currently owned by insiders.

Institutional Trading of Pelthos Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Pale Fire Capital SE lifted its position in shares of Pelthos Therapeutics by 59.5% in the 1st quarter. Pale Fire Capital SE now owns 12,919 shares of the company’s stock worth $271,000 after buying an additional 4,819 shares during the last quarter. Knott David M Jr raised its stake in Pelthos Therapeutics by 9.3% during the first quarter. Knott David M Jr now owns 21,073 shares of the company’s stock worth $443,000 after acquiring an additional 1,792 shares during the period. Ikarian Capital LLC lifted its holdings in Pelthos Therapeutics by 309.5% in the fourth quarter. Ikarian Capital LLC now owns 255,758 shares of the company’s stock worth $7,928,000 after acquiring an additional 193,307 shares during the last quarter. Millennium Management LLC bought a new position in Pelthos Therapeutics in the fourth quarter worth about $343,000. Finally, Boothbay Fund Management LLC boosted its stake in Pelthos Therapeutics by 279.8% in the fourth quarter. Boothbay Fund Management LLC now owns 80,680 shares of the company’s stock valued at $2,501,000 after acquiring an additional 59,435 shares during the period. Institutional investors own 77.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PTHS. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Pelthos Therapeutics in a research report on Thursday, March 19th. Zacks Research upgraded Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 24th. Oppenheimer increased their target price on Pelthos Therapeutics from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Cantor Fitzgerald started coverage on shares of Pelthos Therapeutics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $50.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.80.

Pelthos Therapeutics Price Performance

NYSEAMERICAN:PTHS traded down $0.26 during mid-day trading on Wednesday, reaching $28.00. The stock had a trading volume of 31,990 shares, compared to its average volume of 15,121. The company has a quick ratio of 1.86, a current ratio of 2.79 and a debt-to-equity ratio of 1.41. The stock has a market cap of $97.44 million, a P/E ratio of -1.36 and a beta of 3.16. Pelthos Therapeutics has a 1-year low of $13.76 and a 1-year high of $54.29. The business has a 50 day simple moving average of $26.60.

Pelthos Therapeutics (NYSEAMERICAN:PTHS) last released its earnings results on Thursday, May 14th. The company reported ($3.09) EPS for the quarter. The business had revenue of $10.91 million during the quarter. Sell-side analysts anticipate that Pelthos Therapeutics will post -12.63 EPS for the current fiscal year.

About Pelthos Therapeutics

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).