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

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 52,200 shares, a decline of 76.8% from the May 15th total of 225,400 shares. Based on an average trading volume of 278,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 1.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in QNRX. Altium Capital Management LLC acquired a new stake in Quoin Pharmaceuticals during the 4th quarter valued at approximately $184,000. Renaissance Technologies LLC boosted its stake in shares of Quoin Pharmaceuticals by 244.1% in 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 last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $53,000. Finally, Apollon Wealth Management LLC bought a new position in Quoin Pharmaceuticals during the fourth quarter worth $52,000. 8.63% of the stock is owned by institutional investors and hedge funds.

Quoin Pharmaceuticals Stock Performance

QNRX stock opened at $8.49 on Thursday. The company has a market capitalization of $4.99 million, a P/E ratio of -2.10 and a beta of 1.44. The company has a fifty day moving average price of $7.26 and a 200-day moving average price of $12.92. Quoin Pharmaceuticals has a 52-week low of $5.01 and a 52-week high of $54.95.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($6.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.85) by ($2.65). As a group, sell-side analysts forecast that Quoin Pharmaceuticals will post -2.05 earnings per share 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.