Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Rises By 260.2%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 27,827 shares, a growth of 260.2% from the January 15th total of 7,726 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average daily trading volume, of 38,962 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 38,962 shares, the short-interest ratio is currently 0.7 days. Currently, 3.8% of the company’s stock are short sold.

Hedge Funds Weigh In On Quoin Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of Quoin Pharmaceuticals by 649.6% in the fourth quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock valued at $30,000 after purchasing an additional 1,806 shares during the period. Simplify Asset Management Inc. purchased a new position in Quoin Pharmaceuticals in the fourth quarter valued at about $252,000. AIGH Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the 4th quarter valued at approximately $712,000. Finally, Aberdeen Group plc purchased a new stake in shares of Quoin Pharmaceuticals during the 4th quarter worth approximately $1,082,000. 8.63% of the stock is owned by institutional investors and hedge funds.

Quoin Pharmaceuticals Trading Down 2.7%

NASDAQ QNRX opened at $7.81 on Friday. The business’s 50 day moving average is $11.24 and its two-hundred day moving average is $10.88. The stock has a market capitalization of $6.56 million, a price-to-earnings ratio of -0.26 and a beta of 1.68. Quoin Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $41.80.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on QNRX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Quoin Pharmaceuticals to a “sell” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Quoin Pharmaceuticals currently has a consensus rating of “Sell”.

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.