Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Sees Large Drop in Short Interest

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

Insiders Place Their Bets

In related news, Director Todd C. Davis bought 35,948 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $27.82 per share, for a total transaction of $1,000,073.36. Following the completion of the purchase, the director owned 75,834 shares of the company’s stock, valued at $2,109,701.88. This represents a 90.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 2,228 shares of company stock valued at $48,412 over the last quarter. 12.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pelthos Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Knott David M Jr grew its stake in shares of Pelthos Therapeutics by 9.3% in the 1st quarter. Knott David M Jr now owns 21,073 shares of the company’s stock worth $443,000 after purchasing an additional 1,792 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pelthos Therapeutics by 31.9% during the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock valued at $422,000 after purchasing an additional 3,295 shares during the last quarter. Persistent Asset Partners Ltd boosted its holdings in Pelthos Therapeutics by 150.0% during the fourth quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock worth $186,000 after buying an additional 3,604 shares in the last quarter. Pale Fire Capital SE boosted its holdings in Pelthos Therapeutics by 59.5% during the first 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 in the last quarter. Finally, Millennium Management LLC acquired a new position in Pelthos Therapeutics in the fourth quarter worth approximately $343,000. 77.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PTHS has been the subject of several recent research reports. Oppenheimer upped their price target on shares of Pelthos Therapeutics from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Zacks Research raised shares of Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 24th. Cantor Fitzgerald initiated coverage on shares of Pelthos Therapeutics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $50.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $60.00 price target on shares of Pelthos Therapeutics in a research note on Thursday, March 19th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.80.

Pelthos Therapeutics Trading Down 0.9%

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

Pelthos Therapeutics (NYSEAMERICAN:PTHS) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($3.09) earnings per share for the quarter. The firm had revenue of $10.91 million for the quarter. Research analysts predict that Pelthos Therapeutics will post -12.63 EPS for the current year.

Pelthos Therapeutics Company Profile

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”).