Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Drops By 43.3%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the recipient of a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 14,672 shares, a decline of 43.3% from the February 12th total of 25,875 shares. Based on an average daily trading volume, of 33,563 shares, the days-to-cover ratio is currently 0.4 days. Currently, 2.0% of the company’s stock are sold short. Currently, 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 33,563 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Quoin Pharmaceuticals to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Quoin Pharmaceuticals presently has an average rating of “Sell”.

Quoin Pharmaceuticals Trading Down 0.4%

Shares of NASDAQ QNRX traded down $0.03 during midday trading on Friday, reaching $8.06. The company had a trading volume of 10,264 shares, compared to its average volume of 26,691. Quoin Pharmaceuticals has a 1 year low of $5.01 and a 1 year high of $41.80. The business’s 50-day simple moving average is $9.30 and its 200 day simple moving average is $11.07. The stock has a market cap of $6.77 million, a P/E ratio of -0.25 and a beta of 1.60.

Institutional Trading of Quoin Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased 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 during the period. AIGH Capital Management LLC purchased a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth about $712,000. Simplify Asset Management Inc. acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth about $252,000. Millennium Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth about $1,080,000. Finally, Ikarian Capital LLC purchased a new stake in Quoin Pharmaceuticals in the fourth quarter valued at approximately $3,052,000. Institutional investors and hedge funds own 8.63% of the company’s stock.

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.