Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Stock Short Interest Report for September

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 65,473 shares, a decrease of 48.2% from the September 15th total of 126,292 shares. Based on an average daily volume of 47,416 shares, the days-to-cover ratio is currently 1.4 days. Approximately 3.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

QNRX has been the subject of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, July 20th. BTIG Research assumed coverage on Quoin Pharmaceuticals in a report on Monday. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Lake Street Capital started coverage on Quoin Pharmaceuticals in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $20.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Quoin Pharmaceuticals Stock Down 1.7%

Shares of Quoin Pharmaceuticals stock traded down $0.07 during trading hours on Thursday, reaching $4.03. 24,062 shares of the company’s stock were exchanged, compared to its average volume of 285,471. The business has a fifty day moving average of $5.74 and a two-hundred day moving average of $5.35. The company has a market capitalization of $8.10 million, a P/E ratio of -0.16 and a beta of 1.56. Quoin Pharmaceuticals has a 1 year low of $3.25 and a 1 year high of $23.50.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings results 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). As a group, research analysts predict that Quoin Pharmaceuticals will post -7.45 EPS for the current year.

Insider Buying and Selling at Quoin Pharmaceuticals

In other news, Director Anthony Culverwell acquired 6,146 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were acquired at an average price of $4.88 per share, with a total value of $29,992.48. Following the purchase, the director directly owned 40,364 shares of the company’s stock, valued at $196,976.32. This trade represents a 17.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Denise Carter acquired 20,490 shares of the business’s stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $4.88 per share, with a total value of $99,991.20. Following the acquisition, the chief operating officer directly owned 37,709 shares of the company’s stock, valued at $184,019.92. This represents a 119.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 57,370 shares of company stock valued at $279,966 in the last three months. Company insiders own 7.54% of the company’s stock.

Institutional Trading of Quoin Pharmaceuticals

An institutional investor recently raised its position in Quoin Pharmaceuticals stock. SummitTX Capital L.P. boosted its stake in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,300 shares of the company’s stock after buying an additional 35,505 shares during the period. SummitTX Capital L.P. owned approximately 5.56% of Quoin Pharmaceuticals worth $662,000 at the end of the most recent quarter. 8.63% of the stock is currently owned by hedge funds and other institutional investors.

About Quoin Pharmaceuticals

Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare diseases with significant unmet medical needs. The company’s programs are primarily designed to address disorders affecting the skin and other tissues, with an emphasis on topical drug-delivery technologies.

Quoin’s lead product candidate, QRX003, is an investigational topical lotion being developed for Netherton syndrome, a rare genetic skin disorder associated with impaired skin barrier function and inflammation.