Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) Short Interest Up 154.3% in July

Key Points

• Short interest surged 154.3% to 70,670 shares as of July 15, representing approximately 2.3% of Pelthos Therapeutics’ outstanding stock and 2.3 days to cover.
• Analysts remain broadly positive, with five Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $55.80.
• PTHS shares recently traded at $27.59, while the company reported a quarterly loss of $3.09 per share on $10.91 million in revenue. A company director also purchased approximately $1 million in stock, and institutional investors own 77.96% of shares.

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS - Get Free Report) saw a large increase in short interest in 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 volume of 30,445 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.3% of the company's stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Pelthos Therapeutics in a research note on Wednesday, April 1st. They set an "overweight" rating and a $50.00 target price on the stock. Oppenheimer lifted their price target on shares of Pelthos Therapeutics from $62.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Pelthos Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $55.80.

Pelthos Therapeutics Stock Performance

Shares of PTHS stock traded up $1.67 on Monday, reaching $27.59. 91,427 shares of the stock were exchanged, compared to its average volume of 47,089. The company's 50 day moving average price is $27.07. The company has a current ratio of 2.79, a quick ratio of 1.86 and a debt-to-equity ratio of 1.41. Pelthos Therapeutics has a twelve month low of $16.50 and a twelve month high of $37.50.

Pelthos Therapeutics (NYSEAMERICAN:PTHS - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($3.09) earnings per share for the quarter. The business had revenue of $10.91 million during the quarter. Sell-side analysts predict that Pelthos Therapeutics will post -12.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Todd C. Davis purchased 35,948 shares of Pelthos Therapeutics stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $27.82 per share, with a total value of $1,000,073.36. Following the transaction, the director directly owned 75,834 shares of the company's stock, valued at approximately $2,109,701.88. This trade represents a 90.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 1,638 shares of company stock worth $43,107. 12.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pelthos Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Pelthos Therapeutics by 31.9% during the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company's stock worth $422,000 after purchasing an additional 3,295 shares in the last quarter. Knott David M Jr boosted its holdings in shares of Pelthos Therapeutics by 215.5% in the 4th quarter. Knott David M Jr now owns 19,281 shares of the company's stock valued at $598,000 after buying an additional 13,169 shares in the last quarter. Persistent Asset Partners Ltd boosted its holdings in shares of Pelthos Therapeutics by 150.0% in the 4th quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company's stock valued at $186,000 after buying an additional 3,604 shares in the last quarter. Diadema Partners LP grew its position in shares of Pelthos Therapeutics by 138.1% in the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company's stock valued at $775,000 after buying an additional 14,502 shares during the last quarter. Finally, Cantor Fitzgerald L. P. acquired a new stake in Pelthos Therapeutics during the 4th quarter worth $1,085,000. Hedge funds and other institutional investors own 77.96% of the company's stock.

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”).

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