Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Sees Large Growth in Short Interest

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 12,900 shares, an increase of 148.1% from the June 15th total of 5,200 shares. Based on an average daily volume of 52,500 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lowered their target price on shares of Quoin Pharmaceuticals from $15.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, March 15th.

Institutional Trading of Quoin Pharmaceuticals

A hedge fund recently bought a new stake in Quoin Pharmaceuticals stock. Virtu Financial LLC bought a new position in shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,749 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.77% of Quoin Pharmaceuticals at the end of the most recent quarter. 8.63% of the stock is currently owned by hedge funds and other institutional investors.

Quoin Pharmaceuticals Stock Up 0.9 %

Quoin Pharmaceuticals stock traded up $0.01 during mid-day trading on Friday, hitting $0.66. The company had a trading volume of 28,483 shares, compared to its average volume of 313,174. Quoin Pharmaceuticals has a 1 year low of $0.57 and a 1 year high of $12.00. The business has a fifty day moving average of $0.69 and a 200 day moving average of $1.79. The stock has a market cap of $2.61 million, a price-to-earnings ratio of -0.09 and a beta of 1.97.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its earnings results on Thursday, May 9th. The company reported ($1.11) EPS for the quarter. Equities analysts anticipate that Quoin Pharmaceuticals will post -3.51 earnings per share for the current year.

Quoin Pharmaceuticals Company Profile

Quoin Pharmaceuticals, Ltd., a clinical stage specialty pharmaceutical company, focuses on the development and commercialization of therapeutic products for rare and orphan diseases. Its lead product is QRX003, a topical lotion to treat Netherton Syndrome (NS). The company is also developing QRX004 for the treatment of recessive dystrophic epidermolysis bullosa; QRX007 to treat NS; and QRX008 for the treatment of scleroderma.