Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Sees Large Decline in Short Interest

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 5,000 shares, a decline of 99.4% from the March 15th total of 868,800 shares. Based on an average trading volume of 243,500 shares, the short-interest ratio is presently 0.0 days. Approximately 0.1% of the shares of the stock are sold short.

Quoin Pharmaceuticals Trading Down 1.7 %

QNRX traded down $0.09 on Monday, reaching $5.28. The stock had a trading volume of 66,354 shares, compared to its average volume of 91,809. The firm has a 50-day moving average of $9.89 and a 200-day moving average of $17.39. Quoin Pharmaceuticals has a fifty-two week low of $5.04 and a fifty-two week high of $54.95. The company has a market capitalization of $3.11 million, a price-to-earnings ratio of -1.30 and a beta of 1.89.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its earnings results on Thursday, March 13th. The company reported ($12.25) EPS for the quarter, topping the consensus estimate of ($17.50) by $5.25. Sell-side analysts anticipate that Quoin Pharmaceuticals will post -2.05 EPS for the current fiscal year.

Institutional Trading of Quoin Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Altium Capital Management LLC acquired a new position in Quoin Pharmaceuticals during the 4th quarter worth about $184,000. Renaissance Technologies LLC increased its position in Quoin Pharmaceuticals by 244.1% during the 4th quarter. Renaissance Technologies LLC now owns 133,122 shares of the company’s stock valued at $87,000 after purchasing an additional 94,431 shares during the period. Boothbay Fund Management LLC bought a new position in Quoin Pharmaceuticals during the 4th quarter worth approximately $53,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Quoin Pharmaceuticals in the 4th quarter worth approximately $52,000. Institutional investors 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.