Short Interest in Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Declines By 99.4%

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 5,000 shares, a decline of 99.4% from the March 15th total of 868,800 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 243,500 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

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

Quoin Pharmaceuticals Stock Up 4.0 %

Shares of QNRX stock traded up $0.21 during mid-day trading on Tuesday, reaching $5.49. The company’s stock had a trading volume of 14,004 shares, compared to its average volume of 226,869. The firm has a market capitalization of $3.23 million, a PE ratio of -1.36 and a beta of 1.89. The company’s 50 day simple moving average is $9.78 and its 200-day simple moving average is $17.31. Quoin Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $54.95.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its earnings results on Thursday, March 13th. The company reported ($12.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($17.50) by $5.25. As a group, research analysts anticipate that Quoin Pharmaceuticals will post -2.05 EPS 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.