Denise Carter Purchases 20,490 Shares of Quoin Pharmaceuticals (NASDAQ:QNRX) Stock

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) COO Denise Carter bought 20,490 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of $4.88 per share, with a total value of $99,991.20. Following the purchase, the chief operating officer directly owned 37,709 shares of the company’s stock, valued at approximately $184,019.92. This represents a 119.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Quoin Pharmaceuticals Trading Up 4.7%

NASDAQ:QNRX traded up $0.29 during mid-day trading on Tuesday, reaching $6.51. 274,471 shares of the stock were exchanged, compared to its average volume of 1,602,162. The business has a fifty day moving average price of $4.77 and a 200 day moving average price of $5.89. Quoin Pharmaceuticals, Ltd. Sponsored ADR has a 1-year low of $3.25 and a 1-year high of $41.80. The firm has a market capitalization of $13.09 million, a PE ratio of -0.26 and a beta of 1.50.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings results on Friday, August 14th. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.29). On average, sell-side analysts forecast that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QNRX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. ThinkEquity began coverage on shares of Quoin Pharmaceuticals in a research report on Monday, June 15th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Quoin Pharmaceuticals currently has an average rating of “Hold”.

Institutional Trading of Quoin Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ikarian Capital LLC purchased a new stake in Quoin Pharmaceuticals during the fourth quarter valued at about $3,052,000. SummitTX Capital L.P. purchased a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth approximately $935,000. Millennium Management LLC purchased a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth approximately $1,080,000. Boothbay Fund Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter valued at approximately $863,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter valued at approximately $840,000. Institutional investors and hedge funds own 8.63% of the company’s stock.

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.