Insider Buying: Quoin Pharmaceuticals (NASDAQ:QNRX) Director Acquires $29,992.48 in Stock

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Director Anthony James Culverwell bought 6,146 shares of the stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $4.88 per share, for a total transaction of $29,992.48. Following the purchase, the director owned 40,364 shares in the company, valued at $196,976.32. This trade represents a 17.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Quoin Pharmaceuticals Trading Up 16.8%

Shares of NASDAQ:QNRX opened at $7.87 on Friday. The company has a 50 day moving average of $4.90 and a 200-day moving average of $5.88. The firm has a market cap of $15.82 million, a P/E ratio of -0.31 and a beta of 1.51. Quoin Pharmaceuticals, Ltd. Sponsored ADR has a twelve month low of $3.25 and a twelve month high of $41.80.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings data on Friday, August 14th. The company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.29). Equities research analysts forecast that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.45 EPS for the current year.

Analyst Upgrades and Downgrades

QNRX has been the topic of several research analyst reports. ThinkEquity assumed coverage on Quoin Pharmaceuticals in a research report on Monday, June 15th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Institutional Trading of Quoin Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in QNRX. Simplify Asset Management Inc. acquired a new stake in Quoin Pharmaceuticals during the fourth quarter valued at approximately $252,000. SummitTX Capital L.P. boosted its holdings in Quoin Pharmaceuticals by 54.8% during the first quarter. SummitTX Capital L.P. now owns 100,300 shares of the company’s stock worth $662,000 after buying an additional 35,505 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in Quoin Pharmaceuticals in the fourth quarter worth approximately $840,000. Boothbay Fund Management LLC acquired a new position in Quoin Pharmaceuticals in the fourth quarter worth approximately $863,000. Finally, Millennium Management LLC bought a new position in shares of Quoin Pharmaceuticals in the fourth quarter valued at $1,080,000. 8.63% of the stock is currently owned by 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.