Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Sees Significant Decrease in Short Interest

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 7,634 shares, a decline of 48.0% from the February 26th total of 14,672 shares. Based on an average trading volume of 17,261 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.1% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Quoin Pharmaceuticals presently has a consensus rating of “Sell”.

Quoin Pharmaceuticals Price Performance

Shares of QNRX traded down $0.59 during trading hours on Friday, hitting $6.99. The stock had a trading volume of 21,336 shares, compared to its average volume of 99,644. The firm has a market capitalization of $5.87 million, a PE ratio of -0.22 and a beta of 1.60. Quoin Pharmaceuticals has a 12 month low of $5.01 and a 12 month high of $41.80. The stock has a fifty day moving average price of $8.53 and a 200 day moving average price of $11.11.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its earnings results on Thursday, March 26th. The company reported ($1.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.42) by $4.68. As a group, analysts anticipate that Quoin Pharmaceuticals will post -2.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Quoin Pharmaceuticals by 649.6% during the fourth quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock valued at $30,000 after buying an additional 1,806 shares during the period. Simplify Asset Management Inc. purchased a new stake in Quoin Pharmaceuticals during the fourth quarter valued at approximately $252,000. AIGH Capital Management LLC bought a new position in Quoin Pharmaceuticals in the fourth quarter worth approximately $712,000. ADAR1 Capital Management LLC purchased a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth $840,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth $863,000. 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. 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.