Quoin Pharmaceuticals (NASDAQ:QNRX) Trading Down 1.8%

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX)’s share price traded down 1.8% on Thursday . The stock traded as low as $0.71 and last traded at $0.72. 10,044 shares were traded during trading, a decline of 98% from the average session volume of 515,527 shares. The stock had previously closed at $0.73.

Analyst Ratings Changes

Separately, Maxim Group cut their price objective on shares of Quoin Pharmaceuticals from $15.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, March 15th.

Quoin Pharmaceuticals Price Performance

The business has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $3.32. The firm has a market cap of $2.62 million, a PE ratio of -0.07 and a beta of 1.81.

Quoin Pharmaceuticals (NASDAQ:QNRX) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($2.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.37) by $0.29. On average, equities analysts forecast that Quoin Pharmaceuticals, Ltd. will post -9.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Quoin Pharmaceuticals during the first quarter valued at about $57,000. Renaissance Technologies LLC raised its stake in Quoin Pharmaceuticals by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 64,932 shares of the company’s stock valued at $29,000 after purchasing an additional 14,532 shares during the period. Finally, Jane Street Group LLC bought a new stake in Quoin Pharmaceuticals during the 3rd quarter valued at approximately $26,000. 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.