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

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 261,876 shares, an increase of 555.7% from the June 15th total of 39,939 shares. Approximately 15.1% of the company’s shares are short sold. Based on an average daily volume of 1,319,031 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in QNRX. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing 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 about $252,000. SummitTX Capital L.P. raised its position in Quoin Pharmaceuticals by 54.8% in the 1st quarter. SummitTX Capital L.P. now owns 100,300 shares of the company’s stock valued at $662,000 after buying an additional 35,505 shares during the last quarter. AIGH Capital Management LLC acquired a new stake in Quoin Pharmaceuticals in the 4th quarter valued at approximately $712,000. Finally, ADAR1 Capital Management LLC bought a new stake in Quoin Pharmaceuticals in the 4th quarter valued at approximately $840,000. Institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Stock Performance

NASDAQ QNRX traded down $0.28 during trading hours on Monday, reaching $4.17. 20,115 shares of the company’s stock were exchanged, compared to its average volume of 165,031. The company has a market capitalization of $8.37 million, a price-to-earnings ratio of -0.14 and a beta of 1.52. The company’s 50-day moving average is $4.94 and its two-hundred day moving average is $7.46. Quoin Pharmaceuticals has a one year low of $3.25 and a one year high of $41.80.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Wednesday, April 22nd. ThinkEquity began coverage on Quoin Pharmaceuticals in a report on Monday, June 15th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.