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

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 526,654 shares, an increase of 373.2% from the August 15th total of 111,299 shares. Currently, 29.5% of the shares of the company are sold short. Based on an average trading volume of 2,777,345 shares, the short-interest ratio is currently 0.2 days.

Quoin Pharmaceuticals Stock Down 1.6%

Quoin Pharmaceuticals stock traded down $0.11 during midday trading on Friday, reaching $6.79. The stock had a trading volume of 65,673 shares, compared to its average volume of 1,666,310. The firm has a market capitalization of $13.65 million, a PE ratio of -0.27 and a beta of 1.51. Quoin Pharmaceuticals has a 12 month low of $3.25 and a 12 month high of $41.80. The firm’s 50-day moving average price is $5.20 and its 200 day moving average price is $5.82.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its earnings results on Friday, August 14th. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.29). Equities research analysts expect that Quoin Pharmaceuticals will post -7.45 EPS for the current year.

Insiders Place Their Bets

In other Quoin Pharmaceuticals news, CFO Sally Bridget Lawlor purchased 10,244 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average cost of $4.88 per share, with a total value of $49,990.72. Following the completion of the transaction, the chief financial officer owned 10,684 shares of the company’s stock, valued at $52,137.92. The trade was a 2,328.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Denise P. Carter purchased 20,490 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average price of $4.88 per share, for a total transaction of $99,991.20. Following the completion of the acquisition, the chief operating officer directly owned 37,709 shares of the company’s stock, valued at $184,019.92. This trade represents a 119.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 57,370 shares of company stock valued at $279,966. Insiders own 11.17% of the company’s stock.

Institutional Investors Weigh In On Quoin Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ikarian Capital LLC purchased a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $3,052,000. SummitTX Capital L.P. raised its stake in shares of 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 purchasing an additional 35,505 shares during the period. Millennium Management LLC purchased a new stake in Quoin Pharmaceuticals during the 4th quarter worth about $1,080,000. Boothbay Fund Management LLC purchased a new stake in Quoin Pharmaceuticals during the 4th quarter worth about $863,000. Finally, ADAR1 Capital Management LLC bought a new position in Quoin Pharmaceuticals in the 4th quarter worth about $840,000. Institutional investors own 8.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. ThinkEquity began coverage on shares of Quoin Pharmaceuticals in a research report on Monday, June 15th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus 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.