Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Sees Significant Growth in Short Interest

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 168,900 shares, an increase of 77.4% from the November 30th total of 95,200 shares. Based on an average trading volume of 3,180,000 shares, the short-interest ratio is currently 0.1 days.

Quoin Pharmaceuticals Price Performance

Shares of NASDAQ:QNRX traded down $0.01 during trading on Friday, hitting $0.55. 553,804 shares of the company were exchanged, compared to its average volume of 1,118,553. The stock has a 50 day moving average of $0.68 and a 200 day moving average of $0.63. Quoin Pharmaceuticals has a 52-week low of $0.43 and a 52-week high of $6.18. The company has a market cap of $2.78 million, a PE ratio of -0.14 and a beta of 1.79.

Insider Activity

In other news, Director Anthony James Culverwell purchased 100,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $0.45 per share, for a total transaction of $45,000.00. Following the purchase, the director now owns 100,317 shares of the company’s stock, valued at $45,142.65. The trade was a 31,545.74 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gordon Dunn acquired 122,221 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $0.45 per share, with a total value of $54,999.45. Following the acquisition, the chief financial officer now owns 151,077 shares in the company, valued at $67,984.65. The trade was a 423.55 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 777,777 shares of company stock valued at $350,000 over the last three months. Corporate insiders own 3.70% 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.