Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Stock Short Interest Falls 48.2%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 65,473 shares, a decrease of 48.2% from the September 15th total of 126,292 shares. Based on an average daily trading volume, of 47,416 shares, the short-interest ratio is currently 1.4 days. Approximately 3.7% of the company’s shares are sold short.

Insiders Place Their Bets

In other Quoin Pharmaceuticals news, CFO Sally Lawlor purchased 10,244 shares of the stock in a transaction on Monday, August 31st. The stock was bought at an average cost of $4.88 per share, for a total transaction of $49,990.72. Following the completion of the acquisition, the chief financial officer directly owned 10,684 shares of the company’s stock, valued at $52,137.92. The trade was a 2,328.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony Culverwell acquired 6,146 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $4.88 per share, with a total value of $29,992.48. Following the completion of the transaction, the director directly owned 40,364 shares in the company, valued at $196,976.32. This trade represents a 17.96% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 57,370 shares of company stock valued at $279,966. Insiders own 7.54% of the company’s stock.

Institutional Trading of Quoin Pharmaceuticals

An institutional investor recently raised its stake in Quoin Pharmaceuticals stock. SummitTX Capital L.P. boosted its stake in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,300 shares of the company’s stock after purchasing an additional 35,505 shares during the period. SummitTX Capital L.P. owned about 5.56% of Quoin Pharmaceuticals worth $662,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on QNRX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, July 20th. Lake Street Capital initiated coverage on Quoin Pharmaceuticals in a research report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price target for the company. Finally, BTIG Research assumed coverage on Quoin Pharmaceuticals in a research note on Monday. They issued a “buy” rating and a $14.00 price target for the company. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Quoin Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Quoin Pharmaceuticals Stock Down 1.2%

Shares of Quoin Pharmaceuticals stock traded down $0.05 on Wednesday, hitting $4.10. The stock had a trading volume of 140,362 shares, compared to its average volume of 286,696. The stock has a market cap of $8.24 million, a price-to-earnings ratio of -0.16 and a beta of 1.56. The business’s 50 day moving average is $5.74 and its two-hundred day moving average is $5.37. Quoin Pharmaceuticals has a twelve month low of $3.25 and a twelve month high of $23.50.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings data on Friday, August 14th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.29). As a group, equities analysts predict that Quoin Pharmaceuticals will post -7.45 earnings per share for the current fiscal year.

About Quoin Pharmaceuticals

Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare diseases with significant unmet medical needs. The company’s programs are primarily designed to address disorders affecting the skin and other tissues, with an emphasis on topical drug-delivery technologies.

Quoin’s lead product candidate, QRX003, is an investigational topical lotion being developed for Netherton syndrome, a rare genetic skin disorder associated with impaired skin barrier function and inflammation.