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

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a large decline in short interest during 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. Approximately 8.8% of the company’s stock are sold short. Based on an average daily trading volume, of 39,970 shares, the days-to-cover ratio is presently 3.9 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on QNRX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. ThinkEquity assumed coverage on shares of Quoin Pharmaceuticals in a research note on Monday, June 15th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Quoin Pharmaceuticals currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Quoin Pharmaceuticals by 649.6% during 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 last quarter. Simplify Asset Management Inc. acquired a new position in Quoin Pharmaceuticals in the 4th quarter valued at about $252,000. SummitTX Capital L.P. raised its stake 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 acquiring an additional 35,505 shares during the last quarter. AIGH Capital Management LLC purchased a new stake in Quoin Pharmaceuticals during the 4th quarter valued at approximately $712,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Quoin Pharmaceuticals during the 4th quarter worth approximately $840,000. 8.63% of the stock is currently owned by institutional investors and hedge funds.

Quoin Pharmaceuticals Price Performance

Shares of QNRX stock traded down $0.04 during trading hours on Thursday, hitting $4.24. The stock had a trading volume of 755 shares, compared to its average volume of 151,098. The firm has a market capitalization of $8.52 million, a PE ratio of -0.14 and a beta of 1.52. Quoin Pharmaceuticals has a twelve month low of $3.25 and a twelve month high of $41.80. The stock’s 50 day moving average is $4.51 and its 200 day moving average is $6.57.

Quoin Pharmaceuticals (NASDAQ:QNRX) last announced its earnings results on Thursday, May 7th. The company reported ($1.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.17) by $0.40. As a group, equities analysts predict that Quoin Pharmaceuticals will post -7.38 earnings per share for the current year.

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.