Short Interest in Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Drops By 67.6%

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 trading volume of 5,360,000 shares, the short-interest ratio is currently 0.2 days. Currently, 17.9% of the shares of the stock are short sold.

Quoin Pharmaceuticals Price Performance

Shares of NASDAQ QNRX traded down $0.03 during mid-day trading on Friday, reaching $0.25. The company’s stock had a trading volume of 165,680 shares, compared to its average volume of 2,275,544. Quoin Pharmaceuticals has a 52 week low of $0.24 and a 52 week high of $1.57. The stock has a fifty day moving average of $0.33 and a two-hundred day moving average of $0.53. The firm has a market capitalization of $1.27 million, a PE ratio of -0.06 and a beta of 1.82.

Quoin Pharmaceuticals (NASDAQ:QNRX) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.15. Analysts anticipate that Quoin Pharmaceuticals will post -2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.