Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Decreases By 14.8%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a significant decrease in short interest in 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. Currently, 5.2% of the company’s stock are sold short. Based on an average daily volume of 35,533 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Quoin Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Quoin Pharmaceuticals by 649.6% in the fourth quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock valued at $30,000 after acquiring an additional 1,806 shares in the last quarter. Simplify Asset Management Inc. acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $252,000. AIGH Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $712,000. ADAR1 Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $840,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $863,000. 8.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Quoin Pharmaceuticals Stock Performance

Shares of QNRX stock traded down $0.27 on Friday, hitting $6.21. The stock had a trading volume of 12,662 shares, compared to its average volume of 82,410. The firm has a market capitalization of $11.18 million, a price-to-earnings ratio of -0.18 and a beta of 1.61. The stock’s 50 day moving average is $7.27 and its 200-day moving average is $10.78. Quoin Pharmaceuticals has a 52-week low of $5.20 and a 52-week high of $41.80.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings results on Friday, March 27th. The company reported ($14.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.42) by ($8.38). Equities analysts expect that Quoin Pharmaceuticals will post -7.51 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. 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.