Quoin Pharmaceuticals (NASDAQ:QNRX) CFO Acquires $49,990.72 in Stock

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) CFO Sally Bridget Lawlor purchased 10,244 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $4.88 per share, for a total transaction of $49,990.72. Following the completion of the purchase, the chief financial officer owned 10,684 shares in the company, valued at $52,137.92. The trade was a 2,328.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Quoin Pharmaceuticals Price Performance

QNRX opened at $7.87 on Friday. Quoin Pharmaceuticals, Ltd. Sponsored ADR has a 12 month low of $3.25 and a 12 month high of $41.80. The business has a 50-day moving average of $4.90 and a two-hundred day moving average of $5.88. The stock has a market capitalization of $15.82 million, a price-to-earnings ratio of -0.31 and a beta of 1.51.

Quoin Pharmaceuticals (NASDAQ:QNRX) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.29). Equities research analysts anticipate that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.45 earnings per share for the current year.

Hedge Funds Weigh In On Quoin Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Ikarian Capital LLC purchased a new stake in shares of Quoin Pharmaceuticals during the 4th quarter worth about $3,052,000. SummitTX Capital L.P. raised its holdings in Quoin Pharmaceuticals by 54.8% in the first quarter. SummitTX Capital L.P. now owns 100,300 shares of the company’s stock valued at $662,000 after buying an additional 35,505 shares during the period. Millennium Management LLC acquired a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $1,080,000. Boothbay Fund Management LLC acquired a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $863,000. Finally, ADAR1 Capital Management LLC acquired a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $840,000. 8.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QNRX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. ThinkEquity began coverage on shares of Quoin Pharmaceuticals in a research note on Monday, June 15th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Quoin Pharmaceuticals presently has an average rating of “Hold”.

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.