Hoth Therapeutics, Inc. (NASDAQ:HOTH) Short Interest Update

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 27,300 shares, a decline of 64.3% from the February 29th total of 76,400 shares. Based on an average daily volume of 542,500 shares, the short-interest ratio is presently 0.1 days. Currently, 0.6% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Hoth Therapeutics in a research report on Monday, February 5th.

Hoth Therapeutics Stock Performance

Hoth Therapeutics stock traded down $0.11 during trading hours on Wednesday, hitting $1.38. The company had a trading volume of 3,252,553 shares, compared to its average volume of 499,876. The firm has a market cap of $6.00 million, a P/E ratio of -0.29 and a beta of 0.59. Hoth Therapeutics has a 1 year low of $0.99 and a 1 year high of $4.30. The company has a 50-day moving average price of $1.34 and a two-hundred day moving average price of $1.35.

Institutional Investors Weigh In On Hoth Therapeutics

Several large investors have recently modified their holdings of HOTH. Vanguard Group Inc. raised its holdings in shares of Hoth Therapeutics by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 764,646 shares of the company’s stock valued at $529,000 after purchasing an additional 54,600 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Hoth Therapeutics by 77.9% in the 2nd quarter. Renaissance Technologies LLC now owns 157,245 shares of the company’s stock valued at $66,000 after purchasing an additional 68,845 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Hoth Therapeutics by 453.2% in the 2nd quarter. Virtu Financial LLC now owns 138,213 shares of the company’s stock valued at $58,000 after purchasing an additional 113,229 shares in the last quarter. HRT Financial LP bought a new stake in shares of Hoth Therapeutics in the 4th quarter valued at about $89,000. Finally, Armistice Capital LLC bought a new stake in shares of Hoth Therapeutics in the 4th quarter valued at about $1,092,000. Institutional investors own 7.08% of the company’s stock.

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.