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

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 526,654 shares, an increase of 373.2% from the August 15th total of 111,299 shares. Based on an average trading volume of 2,777,345 shares, the short-interest ratio is presently 0.2 days. Currently, 29.5% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. ThinkEquity started coverage on Quoin Pharmaceuticals in a report on Monday, June 15th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Insider Activity

In other news, CFO Sally Bridget Lawlor purchased 10,244 shares of the stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $4.88 per share, with a total value of $49,990.72. Following the transaction, the chief financial officer owned 10,684 shares in the company, valued at $52,137.92. The trade was a 2,328.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Denise P. Carter acquired 20,490 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average cost of $4.88 per share, with a total value of $99,991.20. Following the acquisition, the chief operating officer directly owned 37,709 shares of the company’s stock, valued at $184,019.92. This trade represents a 119.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 57,370 shares of company stock worth $279,966. 11.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Quoin Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Simplify Asset Management Inc. acquired a new position in Quoin Pharmaceuticals during the 4th quarter worth about $252,000. ADAR1 Capital Management LLC purchased a new stake in Quoin Pharmaceuticals during the fourth quarter worth about $840,000. Boothbay Fund Management LLC purchased a new stake in Quoin Pharmaceuticals during the fourth quarter worth about $863,000. SummitTX Capital L.P. acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth about $935,000. Finally, Millennium Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth about $1,080,000. 8.63% of the stock is owned by institutional investors and hedge funds.

Quoin Pharmaceuticals Stock Down 1.6%

QNRX stock traded down $0.11 during mid-day trading on Friday, hitting $6.79. 65,673 shares of the company were exchanged, compared to its average volume of 1,666,310. Quoin Pharmaceuticals has a 12-month low of $3.25 and a 12-month high of $41.80. The firm has a market capitalization of $13.63 million, a P/E ratio of -0.27 and a beta of 1.51. The business has a fifty day simple moving average of $5.20 and a 200-day simple moving average of $5.82.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings data on Friday, August 14th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($1.61) by ($0.29). Research analysts predict that Quoin Pharmaceuticals will post -7.45 EPS for the current year.

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.