Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Decreases By 43.3%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 14,672 shares, a drop of 43.3% from the February 12th total of 25,875 shares. Based on an average daily trading volume, of 33,563 shares, the days-to-cover ratio is currently 0.4 days. Approximately 2.0% of the shares of the company are sold short. Approximately 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 33,563 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QNRX. GAMMA Investing LLC raised its stake in Quoin Pharmaceuticals by 649.6% in the fourth quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock valued at $30,000 after purchasing an additional 1,806 shares in the last quarter. Aberdeen Group plc acquired a new stake in Quoin Pharmaceuticals during the fourth quarter worth about $1,082,000. AIGH Capital Management LLC bought a new position in Quoin Pharmaceuticals in the 4th quarter valued at about $712,000. Simplify Asset Management Inc. bought a new position in Quoin Pharmaceuticals in the 4th quarter valued at about $252,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Quoin Pharmaceuticals in the 4th quarter valued at approximately $840,000. Institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Price Performance

Quoin Pharmaceuticals stock opened at $8.49 on Thursday. The firm has a market cap of $7.13 million, a PE ratio of -0.27 and a beta of 1.60. The stock’s fifty day moving average price is $9.54 and its two-hundred day moving average price is $11.09. Quoin Pharmaceuticals has a one year low of $5.01 and a one year high of $41.80.

Analyst Upgrades and Downgrades

Several research firms recently commented on QNRX. Wall Street Zen upgraded shares of Quoin Pharmaceuticals to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

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.