Short Interest in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Increases By 260.2%

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 27,827 shares, a growth of 260.2% from the January 15th total of 7,726 shares. Based on an average daily volume of 38,962 shares, the days-to-cover ratio is presently 0.7 days. Approximately 3.8% of the company’s stock are sold short. Approximately 3.8% of the company’s stock are sold short. Based on an average daily volume of 38,962 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in Quoin Pharmaceuticals by 649.6% during the fourth quarter. GAMMA Investing LLC now owns 2,084 shares of the company’s stock worth $30,000 after purchasing an additional 1,806 shares during the period. Aberdeen Group plc bought a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth approximately $1,082,000. AIGH Capital Management LLC bought a new position in shares of Quoin Pharmaceuticals during the 4th quarter worth approximately $712,000. Finally, Simplify Asset Management Inc. acquired a new stake in shares of Quoin Pharmaceuticals during the 4th quarter worth approximately $252,000. 8.63% of the stock is owned by institutional investors and hedge funds.

Quoin Pharmaceuticals Stock Up 6.2%

NASDAQ:QNRX opened at $7.58 on Wednesday. The company has a market cap of $6.36 million, a P/E ratio of -0.24 and a beta of 1.68. Quoin Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $41.80. The business has a 50 day moving average price of $11.65 and a two-hundred day moving average price of $10.92.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Quoin Pharmaceuticals to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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. It has a research agreement with Queensland University of Technology; a license agreement with Skinvisible Inc; consulting agreements with Axella Research LLC; and a Master Service Agreement with Therapeutics Inc The company was founded in 2018 and is based in Ashburn, Virginia.