Hoth Therapeutics, Inc. (NASDAQ:HOTH) Short Interest Down 36.6% in March

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Hoth Therapeutics

A number of hedge funds have recently made changes to their positions in HOTH. Lido Advisors LLC bought a new stake in Hoth Therapeutics in the 3rd quarter worth approximately $32,000. Geode Capital Management LLC boosted its position in shares of Hoth Therapeutics by 8.0% during the 2nd quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock valued at $143,000 after acquiring an additional 9,071 shares during the last quarter. DRW Securities LLC bought a new position in shares of Hoth Therapeutics during the 4th quarter valued at approximately $257,000. Citadel Advisors LLC purchased a new position in shares of Hoth Therapeutics in the third quarter valued at $232,000. Finally, Virtu Financial LLC purchased a new position in shares of Hoth Therapeutics in the third quarter valued at $184,000. Institutional investors own 7.08% of the company’s stock.

Hoth Therapeutics Stock Performance

Shares of Hoth Therapeutics stock opened at $0.84 on Friday. Hoth Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $2.12. The company has a market capitalization of $13.01 million, a P/E ratio of -0.79 and a beta of 0.50. The company has a fifty day moving average of $0.98 and a 200 day moving average of $1.21.

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.