Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Declines By 74.1%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 7,726 shares, a decrease of 74.1% from the December 31st total of 29,780 shares. Based on an average daily trading volume, of 32,128 shares, the short-interest ratio is presently 0.2 days. Approximately 1.1% of the company’s stock are short sold. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 32,128 shares, the short-interest ratio is presently 0.2 days.

Quoin Pharmaceuticals Stock Down 8.8%

NASDAQ:QNRX traded down $0.80 during trading hours on Thursday, reaching $8.30. 65,509 shares of the stock were exchanged, compared to its average volume of 34,979. The stock has a market capitalization of $6.96 million, a P/E ratio of -0.26 and a beta of 1.59. The firm has a 50 day simple moving average of $13.88 and a 200-day simple moving average of $10.97. Quoin Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $41.80.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($6.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.36) by ($0.35). As a group, analysts expect that Quoin Pharmaceuticals will post -2.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen raised Quoin Pharmaceuticals to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Quoin Pharmaceuticals stock. GAMMA Investing LLC lifted its holdings in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 649.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,084 shares of the company’s stock after buying an additional 1,806 shares during the period. GAMMA Investing LLC owned 0.25% of Quoin Pharmaceuticals worth $30,000 at the end of the most recent reporting period. 8.63% of the stock is currently owned by hedge funds and other institutional investors.

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.