Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Short Interest Update

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

Quoin Pharmaceuticals Price Performance

NASDAQ QNRX opened at $4.20 on Monday. The stock’s 50-day moving average price is $5.60 and its 200-day moving average price is $9.02. Quoin Pharmaceuticals has a 52 week low of $4.10 and a 52 week high of $41.80. The company has a market capitalization of $8.43 million, a P/E ratio of -0.14 and a beta of 1.56.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.77) EPS for the quarter, topping the consensus estimate of ($2.17) by $0.40. Research analysts anticipate that Quoin Pharmaceuticals will post -7.38 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Quoin Pharmaceuticals currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in QNRX. GAMMA Investing LLC raised its stake in shares of Quoin Pharmaceuticals by 649.6% in the fourth quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock worth $30,000 after buying an additional 1,806 shares during the period. Aberdeen Group plc bought a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth about $1,082,000. AIGH Capital Management LLC bought a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth about $712,000. Simplify Asset Management Inc. bought a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth about $252,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth about $840,000. 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.