Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Drops By 43.3%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 14,672 shares, a decline of 43.3% from the February 12th total of 25,875 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 33,563 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 33,563 shares, the short-interest ratio is currently 0.4 days. Currently, 2.0% of the company’s stock are short sold.

Quoin Pharmaceuticals Price Performance

Shares of QNRX opened at $8.49 on Thursday. The company’s 50-day moving average is $9.54 and its 200-day moving average is $11.09. The firm has a market capitalization of $7.13 million, a PE ratio of -0.27 and a beta of 1.60. Quoin Pharmaceuticals has a fifty-two week low of $5.01 and a fifty-two week high of $41.80.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QNRX. Wall Street Zen raised shares of Quoin Pharmaceuticals to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Quoin Pharmaceuticals presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Quoin Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Quoin Pharmaceuticals by 649.6% during the fourth quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock worth $30,000 after acquiring an additional 1,806 shares during the period. Simplify Asset Management Inc. acquired a new stake in Quoin Pharmaceuticals during the 4th quarter worth approximately $252,000. AIGH Capital Management LLC bought a new stake in Quoin Pharmaceuticals in the 4th quarter valued at $712,000. ADAR1 Capital Management LLC bought a new stake in Quoin Pharmaceuticals in the 4th quarter valued at $840,000. Finally, Boothbay Fund Management LLC acquired a new position in Quoin Pharmaceuticals in the 4th quarter valued at $863,000. 8.63% of the stock is currently owned by institutional investors and hedge funds.

About Quoin Pharmaceuticals

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. It has a research agreement with Queensland University of Technology; a license agreement with Skinvisible Inc; consulting agreements with Axella Research LLC; and a Master Service Agreement with Therapeutics Inc The company was founded in 2018 and is based in Ashburn, Virginia.