Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Drops By 40.3%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 156,280 shares, a decline of 40.3% from the June 30th total of 261,876 shares. Based on an average trading volume of 39,970 shares, the short-interest ratio is presently 3.9 days. Approximately 8.8% of the shares of the company are sold short.

Institutional Trading of Quoin Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of QNRX. GAMMA Investing LLC raised 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 worth $30,000 after buying an additional 1,806 shares during the period. Simplify Asset Management Inc. purchased a new position in shares of Quoin Pharmaceuticals during the 4th quarter valued at about $252,000. AIGH Capital Management LLC bought a new position in shares of Quoin Pharmaceuticals during the 4th quarter valued at approximately $712,000. ADAR1 Capital Management LLC bought a new position in shares of Quoin Pharmaceuticals during the 4th quarter valued at approximately $840,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Quoin Pharmaceuticals during the 4th quarter valued at approximately $863,000. Hedge funds and other institutional investors own 8.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on QNRX shares. ThinkEquity began coverage on Quoin Pharmaceuticals in a research report on Monday, June 15th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Quoin Pharmaceuticals Price Performance

Shares of Quoin Pharmaceuticals stock opened at $4.45 on Friday. Quoin Pharmaceuticals has a 1-year low of $3.25 and a 1-year high of $41.80. The company’s fifty day simple moving average is $4.49 and its 200-day simple moving average is $6.50. The stock has a market capitalization of $8.94 million, a PE ratio of -0.15 and a beta of 1.52.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.77) EPS for the quarter, topping the consensus estimate of ($2.17) by $0.40. As a group, research analysts anticipate that Quoin Pharmaceuticals will post -7.38 EPS for the current 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.