Quoin Pharmaceuticals (NASDAQ:QNRX) CEO Purchases $99,991.20 in Stock

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) CEO Michael Myers bought 20,490 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average cost of $4.88 per share, with a total value of $99,991.20. Following the completion of the purchase, the chief executive officer owned 37,713 shares in the company, valued at $184,039.44. This represents a 118.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Quoin Pharmaceuticals Stock Performance

Shares of QNRX stock opened at $7.87 on Friday. Quoin Pharmaceuticals, Ltd. Sponsored ADR has a 52 week low of $3.25 and a 52 week high of $41.80. The company’s 50 day moving average price is $4.90 and its two-hundred day moving average price is $5.88. The company has a market capitalization of $15.82 million, a P/E ratio of -0.31 and a beta of 1.51.

Quoin Pharmaceuticals (NASDAQ:QNRX) last released its quarterly earnings results on Friday, August 14th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.29). Analysts forecast that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.45 earnings per share for the current year.

Analyst Ratings Changes

QNRX has been the subject of a number of research analyst reports. ThinkEquity began coverage on shares of Quoin Pharmaceuticals in a research note on Monday, June 15th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Quoin Pharmaceuticals has an average rating of “Hold”.

Hedge Funds Weigh In On Quoin Pharmaceuticals

Large investors have recently bought and sold shares of the company. Ikarian Capital LLC bought a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth approximately $3,052,000. SummitTX Capital L.P. lifted its position in shares of Quoin Pharmaceuticals by 54.8% in the first quarter. SummitTX Capital L.P. now owns 100,300 shares of the company’s stock worth $662,000 after purchasing an additional 35,505 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Quoin Pharmaceuticals in the fourth quarter worth $1,080,000. Boothbay Fund Management LLC acquired a new position in Quoin Pharmaceuticals during the fourth quarter worth $863,000. Finally, ADAR1 Capital Management LLC acquired a new position in Quoin Pharmaceuticals during the fourth quarter worth $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.