Quoin Pharmaceuticals (NASDAQ:QNRX) Shares Up 4.7% – Still a Buy?

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX)’s stock price shot up 4.7% during mid-day trading on Friday . The company traded as high as $4.69 and last traded at $4.49. 20,178 shares were traded during mid-day trading, a decline of 34% from the average session volume of 30,541 shares. The stock had previously closed at $4.29.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Quoin Pharmaceuticals presently has an average rating of “Sell”.

Quoin Pharmaceuticals Stock Performance

The company has a market capitalization of $9.02 million, a price-to-earnings ratio of -0.15 and a beta of 1.56. The firm’s 50-day simple moving average is $5.79 and its 200-day simple moving average is $9.56.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.17) by $0.40. Equities research analysts forecast that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.38 earnings per share for the current year.

Hedge Funds Weigh In On Quoin Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Quoin Pharmaceuticals by 649.6% during the 4th 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. bought a new position in Quoin Pharmaceuticals during the 4th quarter valued at about $252,000. SummitTX Capital L.P. lifted its holdings in Quoin Pharmaceuticals by 54.8% during the 1st quarter. SummitTX Capital L.P. now owns 100,300 shares of the company’s stock valued at $662,000 after purchasing an additional 35,505 shares during the last quarter. AIGH Capital Management LLC bought a new position in Quoin Pharmaceuticals during the 4th quarter valued at about $712,000. Finally, ADAR1 Capital Management LLC bought a new position in Quoin Pharmaceuticals during the 4th quarter valued at about $840,000. 8.63% of the stock is owned by 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.