Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Short Interest Update

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 48,916 shares, a decrease of 38.8% from the May 14th total of 79,876 shares. Based on an average daily volume of 37,619 shares, the days-to-cover ratio is presently 1.3 days. Approximately 2.8% of the shares of the company are short sold.

Quoin Pharmaceuticals Price Performance

Shares of NASDAQ:QNRX opened at $4.46 on Wednesday. The business’s 50 day moving average price is $5.50 and its 200-day moving average price is $8.78. Quoin Pharmaceuticals has a 1 year low of $4.10 and a 1 year high of $41.80. The firm has a market capitalization of $8.96 million, a price-to-earnings ratio of -0.15 and a beta of 1.56.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.77) EPS for the quarter, topping the consensus estimate of ($2.17) by $0.40. On average, sell-side analysts expect that Quoin Pharmaceuticals will post -7.38 earnings per share for the current year.

Analyst Ratings Changes

QNRX has been the subject of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Wednesday, April 22nd. ThinkEquity initiated coverage on Quoin Pharmaceuticals in a research report on Monday. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Quoin Pharmaceuticals by 649.6% in the 4th quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock worth $30,000 after buying an additional 1,806 shares during the last quarter. Simplify Asset Management Inc. purchased a new position in shares of Quoin Pharmaceuticals in the fourth quarter valued at approximately $252,000. SummitTX Capital L.P. lifted its position in shares of Quoin Pharmaceuticals by 54.8% in the first quarter. SummitTX Capital L.P. now owns 100,300 shares of the company’s stock valued at $662,000 after acquiring an additional 35,505 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals in the fourth quarter worth approximately $712,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth approximately $840,000. 8.63% of the stock is owned by hedge funds and other institutional investors.

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.