Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Short Interest Down 40.3% in July

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 156,280 shares, a decline of 40.3% from the June 30th total of 261,876 shares. Based on an average daily volume of 39,970 shares, the short-interest ratio is currently 3.9 days. Approximately 8.8% of the shares of the company are sold short.

Quoin Pharmaceuticals Stock Down 4.6%

NASDAQ:QNRX opened at $4.20 on Friday. The business’s 50-day simple moving average is $4.50 and its two-hundred day simple moving average is $6.52. The stock has a market cap of $8.44 million, a PE ratio of -0.14 and a beta of 1.52. Quoin Pharmaceuticals has a 52 week low of $3.25 and a 52 week high of $41.80.

Quoin Pharmaceuticals (NASDAQ:QNRX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.77) EPS for the quarter, beating the consensus estimate of ($2.17) by $0.40. Sell-side analysts anticipate that Quoin Pharmaceuticals will post -7.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QNRX. GAMMA Investing LLC grew its holdings in 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. bought a new position in shares of Quoin Pharmaceuticals during the fourth quarter worth $252,000. AIGH Capital Management LLC bought a new position in shares of Quoin Pharmaceuticals during the fourth quarter worth $712,000. ADAR1 Capital Management LLC purchased a new position in Quoin Pharmaceuticals during the fourth quarter valued at $840,000. Finally, Boothbay Fund Management LLC bought a new stake in Quoin Pharmaceuticals in the 4th quarter valued at $863,000. 8.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on QNRX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. ThinkEquity started coverage on Quoin Pharmaceuticals in a research note 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, Quoin Pharmaceuticals presently has an average rating of “Hold”.

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.