Short Interest in Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Expands By 1,473.2%

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 193,500 shares, an increase of 1,473.2% from the August 31st total of 12,300 shares. Based on an average daily trading volume, of 478,300 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Quoin Pharmaceuticals

A hedge fund recently bought a new stake in Quoin Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,749 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned approximately 0.77% of Quoin Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Trading Up 0.8 %

Shares of QNRX traded up $0.00 during trading hours on Wednesday, reaching $0.53. 48,005 shares of the stock traded hands, compared to its average volume of 389,510. The company has a market cap of $2.11 million, a P/E ratio of -0.07 and a beta of 1.96. The company’s 50-day moving average price is $0.61 and its two-hundred day moving average price is $0.70. Quoin Pharmaceuticals has a 52-week low of $0.48 and a 52-week high of $6.18.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.36. During the same quarter in the prior year, the company earned ($2.13) EPS. On average, research analysts forecast that Quoin Pharmaceuticals will post -3.13 EPS for the current year.

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.