Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Sees Significant Growth in Short Interest

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHSGet Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 70,670 shares, an increase of 154.3% from the June 30th total of 27,790 shares. Based on an average daily trading volume, of 30,445 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.3% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms recently commented on PTHS. Oppenheimer upped their target price on shares of Pelthos Therapeutics from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Cantor Fitzgerald started coverage on shares of Pelthos Therapeutics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $50.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.80.

Check Out Our Latest Report on Pelthos Therapeutics

Insider Buying and Selling at Pelthos Therapeutics

In related news, Director Todd C. Davis acquired 35,948 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price 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 in the company, valued at approximately $2,109,701.88. The trade was a 90.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 1,638 shares of company stock valued at $43,107 over the last three months. 12.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pelthos Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ikarian Capital LLC grew its position in Pelthos Therapeutics by 309.5% in the fourth quarter. Ikarian Capital LLC now owns 255,758 shares of the company’s stock valued at $7,928,000 after acquiring an additional 193,307 shares during the period. J. Goldman & Co LP acquired a new stake in shares of Pelthos Therapeutics in the 4th quarter valued at $2,418,000. Boothbay Fund Management LLC boosted its stake in shares of Pelthos Therapeutics by 279.8% in the 4th quarter. Boothbay Fund Management LLC now owns 80,680 shares of the company’s stock valued at $2,501,000 after purchasing an additional 59,435 shares in the last quarter. Cantor Fitzgerald L. P. bought a new stake in shares of Pelthos Therapeutics in the 4th quarter worth about $1,085,000. Finally, Diadema Partners LP increased its position in shares of Pelthos Therapeutics by 138.1% during the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after purchasing an additional 14,502 shares in the last quarter. Institutional investors own 77.96% of the company’s stock.

Pelthos Therapeutics Trading Up 0.7%

PTHS traded up $0.18 on Tuesday, hitting $27.77. 103,873 shares of the stock traded hands, compared to its average volume of 50,290. The business has a fifty day moving average of $27.09. The company has a quick ratio of 1.86, a current ratio of 2.79 and a debt-to-equity ratio of 1.41. Pelthos Therapeutics has a 52 week low of $16.50 and a 52 week high of $37.50.

Pelthos Therapeutics (NYSEAMERICAN:PTHSGet Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($3.09) EPS for the quarter. The business had revenue of $10.91 million during the quarter. As a group, research analysts predict that Pelthos Therapeutics will post -12.63 earnings per share for the current year.

Pelthos Therapeutics Company Profile

(Get Free Report)

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”).

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