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

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 80,474 shares, a decrease of 14.8% from the March 31st total of 94,409 shares. Approximately 5.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 35,533 shares, the days-to-cover ratio is currently 2.3 days.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of QNRX. GAMMA Investing LLC raised its position in shares of Quoin Pharmaceuticals by 649.6% during the 4th quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock valued at $30,000 after buying an additional 1,806 shares in the last quarter. Simplify Asset Management Inc. purchased a new stake in Quoin Pharmaceuticals during the fourth quarter valued at about $252,000. AIGH Capital Management LLC purchased a new position in shares of Quoin Pharmaceuticals in the 4th quarter worth about $712,000. ADAR1 Capital Management LLC bought a new position in Quoin Pharmaceuticals during the fourth quarter valued at approximately $840,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Quoin Pharmaceuticals during the fourth quarter worth approximately $863,000. Hedge funds and other institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Stock Performance

Shares of NASDAQ:QNRX opened at $6.21 on Friday. Quoin Pharmaceuticals has a 52-week low of $5.20 and a 52-week high of $41.80. The company has a market capitalization of $11.18 million, a PE ratio of -0.18 and a beta of 1.61. The company has a fifty day moving average of $7.27 and a 200-day moving average of $10.78.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings data on Friday, March 27th. The company reported ($14.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.42) by ($8.38). On average, equities analysts forecast that Quoin Pharmaceuticals will post -7.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

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.