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

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 261,876 shares, an increase of 555.7% from the June 15th total of 39,939 shares. Currently, 15.1% of the company’s stock are short sold. Based on an average trading volume of 1,319,031 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Wednesday, April 22nd. ThinkEquity began coverage on Quoin Pharmaceuticals in a research note on Monday, June 15th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Quoin Pharmaceuticals has an average rating of “Hold”.

Quoin Pharmaceuticals Stock Performance

QNRX traded down $0.22 during trading on Friday, reaching $4.45. The company’s stock had a trading volume of 24,772 shares, compared to its average volume of 697,790. The company’s fifty day moving average price is $4.94 and its 200-day moving average price is $7.50. Quoin Pharmaceuticals has a 52-week low of $3.25 and a 52-week high of $41.80. The company has a market capitalization of $8.94 million, a price-to-earnings ratio of -0.15 and a beta of 1.52.

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 analysts’ consensus estimates of ($2.17) by $0.40. Equities analysts predict that Quoin Pharmaceuticals will post -7.38 earnings per share for the current year.

Institutional Investors Weigh In On Quoin Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings 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 valued at $30,000 after purchasing an additional 1,806 shares in the last quarter. Simplify Asset Management Inc. purchased a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth approximately $252,000. SummitTX Capital L.P. increased 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 worth $662,000 after purchasing an additional 35,505 shares in the last quarter. AIGH Capital Management LLC acquired a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth approximately $712,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth approximately $840,000. 8.63% of the stock is currently owned by institutional investors and hedge funds.

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.