Insider Buying: Quoin Pharmaceuticals (NASDAQ:QNRX) COO Purchases $99,991.20 in Stock

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) COO Denise Carter purchased 20,490 shares of the stock in a transaction on Monday, August 31st. The stock was bought at an average price of $4.88 per share, for a total transaction of $99,991.20. Following the completion of the transaction, the chief operating officer directly owned 37,709 shares of the company’s stock, valued at approximately $184,019.92. This trade represents a 119.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Quoin Pharmaceuticals Price Performance

Quoin Pharmaceuticals stock opened at $7.87 on Friday. The firm has a market capitalization of $15.82 million, a P/E ratio of -0.31 and a beta of 1.51. The stock has a fifty day moving average price of $4.90 and a two-hundred day moving average price of $5.88. Quoin Pharmaceuticals, Ltd. Sponsored ADR has a 52-week low of $3.25 and a 52-week high of $41.80.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its earnings results on Friday, August 14th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($1.61) by ($0.29). On average, equities research analysts predict that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.45 EPS for the current fiscal year.

Analyst Ratings Changes

QNRX has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, July 20th. ThinkEquity initiated coverage on shares of Quoin Pharmaceuticals in a report on Monday, June 15th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Trading of Quoin Pharmaceuticals

Several large investors have recently made changes to their positions in QNRX. Simplify Asset Management Inc. acquired a new stake in shares of Quoin Pharmaceuticals in the fourth quarter valued at $252,000. SummitTX Capital L.P. lifted its position in 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 buying an additional 35,505 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in Quoin Pharmaceuticals during the 4th quarter worth about $840,000. Boothbay Fund Management LLC bought a new stake in Quoin Pharmaceuticals during the 4th quarter worth about $863,000. Finally, Millennium Management LLC acquired a new stake in Quoin Pharmaceuticals in the 4th quarter valued at about $1,080,000. Institutional investors own 8.63% of the company’s stock.

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.