Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Decreases By 14.8%
by Jessica Moore · The Cerbat GemQuoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX – Get Free Report) saw 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. Approximately 5.2% of the shares of the company are short sold. Based on an average daily volume of 35,533 shares, the short-interest ratio is presently 2.3 days.
Quoin Pharmaceuticals Stock Down 4.2%
Shares of NASDAQ:QNRX traded down $0.27 on Friday, reaching $6.21. 12,662 shares of the company’s stock were exchanged, 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. Quoin Pharmaceuticals has a fifty-two week low of $5.20 and a fifty-two week high of $41.80. The business’s 50-day moving average is $7.27 and its two-hundred day moving average is $10.78.
Quoin Pharmaceuticals (NASDAQ:QNRX – Get Free Report) last released its quarterly earnings data on Friday, March 27th. The company reported ($14.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.42) by ($8.38). Analysts predict that Quoin Pharmaceuticals will post -7.51 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.
Read Our Latest Report on QNRX
Institutional Trading of Quoin Pharmaceuticals
Large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Quoin Pharmaceuticals by 649.6% in the 4th quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock worth $30,000 after acquiring an additional 1,806 shares during the period. Simplify Asset Management Inc. acquired a new stake in shares of Quoin Pharmaceuticals in the 4th quarter worth about $252,000. AIGH Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals in the 4th quarter worth about $712,000. ADAR1 Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals in the 4th quarter worth about $840,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Quoin Pharmaceuticals in the 4th quarter worth about $863,000. 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.