Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Stock Short Interest Report for September

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 65,473 shares, a drop of 48.2% from the September 15th total of 126,292 shares. Based on an average daily volume of 47,416 shares, the days-to-cover ratio is presently 1.4 days. Approximately 3.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

QNRX has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. Lake Street Capital initiated coverage on Quoin Pharmaceuticals in a report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price objective for the company. Finally, BTIG Research initiated coverage on Quoin Pharmaceuticals in a research report on Monday. They issued a “buy” rating and a $14.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Insider Activity

In other news, COO Denise Carter bought 20,490 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $4.88 per share, with a total value of $99,991.20. Following the completion of 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 SEC, which is available at this link. Also, CEO Michael Myers acquired 20,490 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was acquired at an average cost of $4.88 per share, for a total transaction of $99,991.20. Following the completion of the purchase, the chief executive officer directly owned 37,713 shares in the company, valued at $184,039.44. This trade represents a 118.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 57,370 shares of company stock worth $279,966 in the last 90 days. 7.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quoin Pharmaceuticals

A hedge fund recently raised its stake in Quoin Pharmaceuticals stock. SummitTX Capital L.P. raised its holdings in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,300 shares of the company’s stock after acquiring an additional 35,505 shares during the quarter. SummitTX Capital L.P. owned approximately 5.56% of Quoin Pharmaceuticals worth $662,000 as of its most recent SEC filing. 8.63% of the stock is owned by institutional investors.

Quoin Pharmaceuticals Price Performance

NASDAQ QNRX traded down $0.05 during trading hours on Wednesday, reaching $4.10. 140,362 shares of the company’s stock traded hands, compared to its average volume of 286,696. The firm has a 50-day simple moving average of $5.74 and a 200 day simple moving average of $5.37. The firm has a market cap of $8.24 million, a PE ratio of -0.16 and a beta of 1.56. Quoin Pharmaceuticals has a 52-week low of $3.25 and a 52-week high of $23.50.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its earnings results on Friday, August 14th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.61) by ($0.29). Sell-side analysts forecast that Quoin Pharmaceuticals will post -7.45 EPS for the current fiscal year.

Quoin Pharmaceuticals Company Profile

Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare diseases with significant unmet medical needs. The company’s programs are primarily designed to address disorders affecting the skin and other tissues, with an emphasis on topical drug-delivery technologies.

Quoin’s lead product candidate, QRX003, is an investigational topical lotion being developed for Netherton syndrome, a rare genetic skin disorder associated with impaired skin barrier function and inflammation.