Michael Myers Buys 20,490 Shares of Quoin Pharmaceuticals (NASDAQ:QNRX) Stock

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) CEO Michael Myers bought 20,490 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of $4.88 per share, with a total value of $99,991.20. Following the transaction, the chief executive officer directly owned 37,713 shares of the company’s stock, valued at $184,039.44. The trade was a 118.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Quoin Pharmaceuticals Stock Up 3.5%

Shares of QNRX opened at $6.74 on Thursday. The company has a 50 day moving average of $4.83 and a two-hundred day moving average of $5.88. Quoin Pharmaceuticals, Ltd. Sponsored ADR has a twelve month low of $3.25 and a twelve month high of $41.80. The company has a market cap of $13.53 million, a price-to-earnings ratio of -0.27 and a beta of 1.50.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings results on Friday, August 14th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.29). On average, sell-side analysts expect that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on QNRX. ThinkEquity started coverage on Quoin Pharmaceuticals in a research report on Monday, June 15th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Quoin Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in QNRX. Simplify Asset Management Inc. purchased a new stake in shares of Quoin Pharmaceuticals during the fourth quarter valued at $252,000. SummitTX Capital L.P. raised its stake in Quoin Pharmaceuticals by 54.8% in the 1st quarter. SummitTX Capital L.P. now owns 100,300 shares of the company’s stock worth $662,000 after acquiring an additional 35,505 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in Quoin Pharmaceuticals during the 4th quarter worth about $840,000. Boothbay Fund Management LLC acquired a new stake in Quoin Pharmaceuticals during the 4th quarter worth about $863,000. Finally, Millennium Management LLC purchased a new stake in Quoin Pharmaceuticals during the 4th quarter valued at about $1,080,000. 8.63% of the stock is currently owned by institutional investors and hedge funds.

About Quoin Pharmaceuticals

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.