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

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

Institutional Investors Weigh In On Quoin Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Apollon Wealth Management LLC acquired a new position in shares of Quoin Pharmaceuticals during the 4th quarter valued at $52,000. Boothbay Fund Management LLC acquired a new position in shares of Quoin Pharmaceuticals during the fourth quarter worth about $53,000. Renaissance Technologies LLC boosted its position in shares of Quoin Pharmaceuticals by 244.1% in the fourth quarter. Renaissance Technologies LLC now owns 133,122 shares of the company’s stock worth $87,000 after buying an additional 94,431 shares during the period. Finally, Altium Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals in the fourth quarter valued at about $184,000. 8.63% of the stock is currently owned by hedge funds and other institutional investors.

Quoin Pharmaceuticals Stock Up 4.9 %

QNRX stock opened at $0.30 on Thursday. The company has a market cap of $1.49 million, a price-to-earnings ratio of -0.07 and a beta of 1.82. The business has a fifty day simple moving average of $0.34 and a 200-day simple moving average of $0.54. Quoin Pharmaceuticals has a 52 week low of $0.27 and a 52 week high of $1.57.

Quoin Pharmaceuticals (NASDAQ:QNRX) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.15. As a group, analysts expect 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.