Short Interest in Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Decreases By 99.4%

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 5,000 shares, a drop of 99.4% from the March 15th total of 868,800 shares. Based on an average trading volume of 243,500 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the stock are short sold.

Quoin Pharmaceuticals Price Performance

QNRX traded up $0.21 during midday trading on Tuesday, reaching $5.49. 14,004 shares of the company’s stock were exchanged, compared to its average volume of 226,869. Quoin Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $54.95. The stock has a market capitalization of $3.23 million, a PE ratio of -1.36 and a beta of 1.89. The business’s 50-day moving average price is $9.78 and its 200 day moving average price is $17.31.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its earnings results on Thursday, March 13th. The company reported ($12.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($17.50) by $5.25. As a group, analysts expect that Quoin Pharmaceuticals will post -2.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Quoin Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of QNRX. Boothbay Fund Management LLC purchased a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth $53,000. Altium Capital Management LLC acquired a new stake in Quoin Pharmaceuticals in the 4th quarter worth about $184,000. Renaissance Technologies LLC grew its holdings in Quoin Pharmaceuticals by 244.1% in the 4th quarter. Renaissance Technologies LLC now owns 133,122 shares of the company’s stock valued at $87,000 after buying an additional 94,431 shares during the period. Finally, Apollon Wealth Management LLC purchased a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth about $52,000. Hedge funds and other 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.