Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Sees Large Increase in Short Interest

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 693,000 shares, a growth of 310.3% from the December 15th total of 168,900 shares. Based on an average daily volume of 3,270,000 shares, the short-interest ratio is presently 0.2 days.

Quoin Pharmaceuticals Price Performance

NASDAQ:QNRX traded down $0.05 during trading hours on Monday, reaching $0.57. 225,882 shares of the company were exchanged, compared to its average volume of 562,820. The firm has a market cap of $2.89 million, a price-to-earnings ratio of -0.14 and a beta of 1.75. The stock has a 50 day simple moving average of $0.64 and a 200 day simple moving average of $0.63. Quoin Pharmaceuticals has a 52-week low of $0.43 and a 52-week high of $6.18.

Insiders Place Their Bets

In related news, Director Anthony James Culverwell acquired 100,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $0.45 per share, with a total value of $45,000.00. Following the purchase, the director now directly owns 100,317 shares in the company, valued at $45,142.65. The trade was a 31,545.74 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gordon Dunn bought 122,221 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $0.45 per share, for a total transaction of $54,999.45. Following the completion of the transaction, the chief financial officer now directly owns 151,077 shares of the company’s stock, valued at approximately $67,984.65. The trade was a 423.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 777,777 shares of company stock valued at $350,000 in the last ninety days. Insiders own 3.70% of the company’s stock.

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.