Quoin Pharmaceuticals (NASDAQ:QNRX) Shares Down 1.8%

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was down 1.8% during mid-day trading on Thursday . The stock traded as low as $0.71 and last traded at $0.72. Approximately 10,044 shares traded hands during trading, a decline of 98% from the average daily volume of 515,527 shares. The stock had previously closed at $0.73.

Analysts Set New Price Targets

Separately, Maxim Group dropped their price target on shares of Quoin Pharmaceuticals from $15.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, March 15th.

Quoin Pharmaceuticals Stock Performance

The business’s fifty day moving average is $1.63 and its 200-day moving average is $3.36. The firm has a market cap of $2.66 million, a P/E ratio of -0.07 and a beta of 1.81.

Quoin Pharmaceuticals (NASDAQ:QNRX) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($2.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.37) by $0.29. Analysts predict that Quoin Pharmaceuticals, Ltd. will post -9.36 EPS for the current fiscal year.

Institutional Trading of Quoin Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Quoin Pharmaceuticals during the 1st quarter worth $57,000. Renaissance Technologies LLC boosted its holdings in shares of Quoin Pharmaceuticals by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 64,932 shares of the company’s stock worth $29,000 after buying an additional 14,532 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Quoin Pharmaceuticals in the 3rd quarter worth about $26,000. Institutional investors own 8.63% of the company’s stock.

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.