Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Short Interest Update

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 868,800 shares, a decline of 67.6% from the February 28th total of 2,680,000 shares. Based on an average daily volume of 5,360,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 17.9% of the company’s shares are short sold.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Apollon Wealth Management LLC acquired a new position in Quoin Pharmaceuticals during the 4th quarter worth approximately $52,000. Renaissance Technologies LLC increased its holdings in shares of Quoin Pharmaceuticals by 244.1% during the fourth quarter. Renaissance Technologies LLC now owns 133,122 shares of the company’s stock valued at $87,000 after acquiring an additional 94,431 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Quoin Pharmaceuticals in the 4th quarter worth $53,000. Finally, Altium Capital Management LLC acquired a new stake in Quoin Pharmaceuticals in the 4th quarter valued at $184,000. Institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Stock Down 15.2 %

QNRX traded down $0.04 during trading on Friday, hitting $0.24. The company’s stock had a trading volume of 1,159,625 shares, compared to its average volume of 2,286,521. The firm has a market capitalization of $1.22 million, a P/E ratio of -0.06 and a beta of 1.82. Quoin Pharmaceuticals has a twelve month low of $0.24 and a twelve month high of $1.57. The stock’s fifty day moving average price is $0.33 and its 200-day moving average price is $0.53.

Quoin Pharmaceuticals (NASDAQ:QNRX) last released its earnings results on Thursday, March 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.15. Equities research analysts expect that Quoin Pharmaceuticals will post -2.05 EPS for the current fiscal year.

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.