Hoth Therapeutics, Inc. (NASDAQ:HOTH) Sees Large Decline in Short Interest

Hoth Therapeutics, Inc. (NASDAQ:HOTH) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 174,100 shares, a decline of 24.8% from the February 13th total of 231,500 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 8,460,000 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

HOTH has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Hoth Therapeutics in a report on Thursday, January 23rd. D. Boral Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Hoth Therapeutics in a report on Monday, March 10th.

Hoth Therapeutics Trading Down 9.4 %

Shares of NASDAQ:HOTH traded down $0.11 on Tuesday, reaching $1.06. 1,387,137 shares of the company were exchanged, compared to its average volume of 3,505,764. The company has a 50-day moving average of $1.26 and a 200-day moving average of $1.00. The firm has a market cap of $7.32 million, a price-to-earnings ratio of -0.80 and a beta of 0.84. Hoth Therapeutics has a 1-year low of $0.58 and a 1-year high of $3.80.

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.