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

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 14,672 shares, a decrease of 43.3% from the February 12th total of 25,875 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 33,563 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 33,563 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

QNRX has been the topic of a number of recent research reports. Wall Street Zen raised shares of Quoin Pharmaceuticals to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Quoin Pharmaceuticals Trading Down 0.4%

QNRX stock traded down $0.03 during midday trading on Friday, hitting $8.06. The company’s stock had a trading volume of 10,264 shares, compared to its average volume of 26,691. The company has a market cap of $6.77 million, a PE ratio of -0.25 and a beta of 1.60. The firm’s 50-day moving average is $9.30 and its 200-day moving average is $11.07. Quoin Pharmaceuticals has a 12 month low of $5.01 and a 12 month high of $41.80.

Hedge Funds Weigh In On Quoin Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of QNRX. Ikarian Capital LLC purchased a new stake in shares of Quoin Pharmaceuticals during the 4th quarter valued at about $3,052,000. Aberdeen Group plc purchased a new position in shares of Quoin Pharmaceuticals during the fourth quarter valued at approximately $1,082,000. Millennium Management LLC purchased a new position in shares of Quoin Pharmaceuticals during the fourth quarter valued at approximately $1,080,000. SummitTX Capital L.P. bought a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $935,000. Finally, Boothbay Fund Management LLC purchased a new stake in Quoin Pharmaceuticals in the fourth quarter worth approximately $863,000. 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.