Quoin Pharmaceuticals (NASDAQ:QNRX) CEO Michael Myers Buys 20,490 Shares

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) CEO Michael Myers acquired 20,490 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was acquired at an average cost of $4.88 per share, with a total value of $99,991.20. Following the purchase, the chief executive officer owned 37,713 shares of the company’s stock, valued at approximately $184,039.44. This trade represents a 118.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Quoin Pharmaceuticals Price Performance

Shares of QNRX opened at $6.51 on Wednesday. The firm has a market cap of $13.09 million, a P/E ratio of -0.26 and a beta of 1.50. The company has a 50 day simple moving average of $4.77 and a two-hundred day simple moving average of $5.89. Quoin Pharmaceuticals, Ltd. Sponsored ADR has a 1 year low of $3.25 and a 1 year high of $41.80.

Quoin Pharmaceuticals (NASDAQ:QNRX) last announced its quarterly earnings results on Friday, August 14th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.29). On average, sell-side analysts anticipate that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.38 earnings per share for the current year.

Institutional Investors Weigh In On Quoin Pharmaceuticals

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

Analyst Upgrades and Downgrades

QNRX has been the topic of several recent research reports. ThinkEquity began coverage on shares of Quoin Pharmaceuticals in a research report on Monday, June 15th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently 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.