Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Decreases By 38.8%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 48,916 shares, a decline of 38.8% from the May 14th total of 79,876 shares. Based on an average trading volume of 37,619 shares, the short-interest ratio is currently 1.3 days. Approximately 2.8% of the company’s stock are short sold.

Institutional Investors Weigh In On Quoin Pharmaceuticals

Several large investors have recently bought and sold shares of the business. SummitTX Capital L.P. increased its holdings in Quoin Pharmaceuticals by 54.8% in the 1st quarter. SummitTX Capital L.P. now owns 100,300 shares of the company’s stock worth $662,000 after buying an additional 35,505 shares in the last quarter. Ikarian Capital LLC bought a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $3,052,000. Millennium Management LLC bought a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $1,080,000. Boothbay Fund Management LLC bought a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $863,000. Finally, ADAR1 Capital Management LLC bought a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $840,000. 8.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on QNRX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Wednesday, April 22nd. ThinkEquity started coverage on shares of Quoin Pharmaceuticals in a research note on Monday. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Quoin Pharmaceuticals Stock Down 4.1%

Shares of NASDAQ QNRX traded down $0.19 during midday trading on Tuesday, hitting $4.46. The stock had a trading volume of 38,174 shares, compared to its average volume of 68,146. The business’s 50 day moving average is $5.55 and its 200-day moving average is $8.90. The company has a market cap of $8.96 million, a P/E ratio of -0.15 and a beta of 1.57. Quoin Pharmaceuticals has a 52 week low of $4.10 and a 52 week high of $41.80.

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