Short Interest in Hoth Therapeutics, Inc. (NASDAQ:HOTH) Decreases By 24.8%

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

Institutional Investors Weigh In On Hoth Therapeutics

An institutional investor recently raised its position in Hoth Therapeutics stock. Geode Capital Management LLC lifted its stake in shares of Hoth Therapeutics, Inc. (NASDAQ:HOTH) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,946 shares of the company’s stock after buying an additional 13,038 shares during the period. Geode Capital Management LLC owned about 1.39% of Hoth Therapeutics worth $72,000 at the end of the most recent quarter. 7.08% of the stock is owned by institutional investors.

Hoth Therapeutics Stock Performance

Shares of Hoth Therapeutics stock opened at $1.11 on Monday. Hoth Therapeutics has a 52 week low of $0.58 and a 52 week high of $3.80. The stock has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.00. The stock has a market capitalization of $7.66 million, a PE ratio of -0.84 and a beta of 0.84.

Analysts Set New Price Targets

Several equities research analysts recently commented on HOTH shares. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Hoth Therapeutics in a research note on Thursday, January 23rd. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Hoth Therapeutics in a research note on Monday, March 10th.

Hoth Therapeutics Company Profile

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.