Insider Buying: Quoin Pharmaceuticals (NASDAQ:QNRX) CEO Buys 20,490 Shares of Stock

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) CEO Michael Myers purchased 20,490 shares of the stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $4.88 per share, with a total value of $99,991.20. Following the acquisition, the chief executive officer directly owned 37,713 shares in the company, valued at $184,039.44. This trade represents a 118.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Quoin Pharmaceuticals Trading Up 4.7%

Shares of NASDAQ QNRX traded up $0.29 on Tuesday, reaching $6.51. 274,471 shares of the company traded hands, compared to its average volume of 1,602,162. Quoin Pharmaceuticals, Ltd. Sponsored ADR has a fifty-two week low of $3.25 and a fifty-two week high of $41.80. The company has a 50 day moving average of $4.77 and a 200 day moving average of $5.89. The stock has a market capitalization of $13.09 million, a PE ratio of -0.26 and a beta of 1.50.

Quoin Pharmaceuticals (NASDAQ:QNRX) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.29). As a group, research analysts expect that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.38 earnings per share for the current year.

Institutional Investors Weigh In On Quoin Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Ikarian Capital LLC purchased a new position in shares of Quoin Pharmaceuticals in the 4th quarter valued at $3,052,000. Millennium Management LLC acquired a new position in shares of Quoin Pharmaceuticals during the 4th quarter valued at $1,080,000. SummitTX Capital L.P. purchased a new stake in Quoin Pharmaceuticals during the 4th quarter worth $935,000. Boothbay Fund Management LLC purchased a new stake in Quoin Pharmaceuticals during the 4th quarter worth $863,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Quoin Pharmaceuticals in the 4th quarter valued at $840,000. 8.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Quoin Pharmaceuticals Company Profile

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.