Short Interest in Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Declines By 67.6%

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 868,800 shares, a decrease of 67.6% from the February 28th total of 2,680,000 shares. Currently, 17.9% of the company’s stock are short sold. Based on an average daily volume of 5,360,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Apollon Wealth Management LLC purchased a new stake in Quoin Pharmaceuticals in the 4th quarter valued at about $52,000. Boothbay Fund Management LLC bought a new position in shares of Quoin Pharmaceuticals in the fourth quarter valued at approximately $53,000. Renaissance Technologies LLC increased its position in shares of Quoin Pharmaceuticals by 244.1% during the fourth quarter. Renaissance Technologies LLC now owns 133,122 shares of the company’s stock valued at $87,000 after acquiring an additional 94,431 shares during the last quarter. Finally, Altium Capital Management LLC purchased a new stake in shares of Quoin Pharmaceuticals during the fourth quarter valued at approximately $184,000. 8.63% of the stock is owned by institutional investors.

Quoin Pharmaceuticals Price Performance

Shares of QNRX stock traded down $0.04 during trading hours on Friday, reaching $0.24. The company had a trading volume of 1,159,625 shares, compared to its average volume of 2,286,521. The company has a market cap of $1.22 million, a price-to-earnings ratio of -0.06 and a beta of 1.82. Quoin Pharmaceuticals has a 12 month low of $0.24 and a 12 month high of $1.57. The business has a fifty day simple moving average of $0.33 and a 200-day simple moving average of $0.53.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.15. On average, equities research analysts expect that Quoin Pharmaceuticals will post -2.05 earnings per share for the current year.

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.