Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Drops By 42.7%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 40,499 shares, a drop of 42.7% from the November 30th total of 70,734 shares. Based on an average trading volume of 130,184 shares, the days-to-cover ratio is presently 0.3 days. Currently, 5.6% of the company’s stock are short sold. Currently, 5.6% of the company’s stock are short sold. Based on an average trading volume of 130,184 shares, the days-to-cover ratio is presently 0.3 days.

Quoin Pharmaceuticals Stock Up 3.3%

NASDAQ:QNRX traded up $0.46 during midday trading on Monday, reaching $14.45. The stock had a trading volume of 9,052 shares, compared to its average volume of 281,238. The stock has a market cap of $12.12 million, a P/E ratio of -0.46 and a beta of 1.59. The firm has a fifty day simple moving average of $14.32 and a two-hundred day simple moving average of $10.51. Quoin Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $41.80.

Quoin Pharmaceuticals (NASDAQ:QNRX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($6.71) EPS for the quarter, missing analysts’ consensus estimates of ($6.36) by ($0.35). On average, sell-side analysts anticipate that Quoin Pharmaceuticals will post -2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QNRX has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, December 22nd. Wall Street Zen raised Quoin Pharmaceuticals to a “sell” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Quoin Pharmaceuticals presently has an average rating of “Sell”.

Insider Buying and Selling

In related news, Director Dennis Langer acquired 15,152 shares of the firm’s stock in a transaction on Tuesday, October 14th. The stock was bought at an average price of $8.49 per share, for a total transaction of $128,640.48. Following the completion of the purchase, the director directly owned 15,153 shares of the company’s stock, valued at approximately $128,648.97. The trade was a 1,515,200.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.46% of the stock is owned by corporate insiders.

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.