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

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 261,876 shares, an increase of 555.7% from the June 15th total of 39,939 shares. Currently, 15.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,319,031 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

QNRX has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Wednesday, April 22nd. ThinkEquity assumed coverage on Quoin Pharmaceuticals in a report on Monday, June 15th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On Quoin Pharmaceuticals

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in 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 buying an additional 1,806 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in shares of Quoin Pharmaceuticals in the 4th quarter valued at approximately $252,000. SummitTX Capital L.P. raised its position in shares of 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 acquiring an additional 35,505 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the 4th quarter valued at approximately $712,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the 4th quarter valued at approximately $840,000. Institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Price Performance

Quoin Pharmaceuticals stock traded down $0.22 during midday trading on Friday, hitting $4.45. 24,772 shares of the company were exchanged, compared to its average volume of 697,790. The company has a market cap of $8.94 million, a PE ratio of -0.15 and a beta of 1.52. The company’s fifty day moving average price is $4.94 and its 200-day moving average price is $7.50. Quoin Pharmaceuticals has a fifty-two week low of $3.25 and a fifty-two week high of $41.80.

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

Quoin Pharmaceuticals Company Profile

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.