Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Short Interest Update

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the target of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 44,400 shares, a decrease of 15.9% from the January 31st total of 52,800 shares. Based on an average trading volume of 3,390,000 shares, the days-to-cover ratio is currently 0.0 days.

Insider Buying and Selling

In other news, CFO Gordon Dunn purchased 122,221 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $0.45 per share, for a total transaction of $54,999.45. Following the completion of the acquisition, the chief financial officer now owns 151,077 shares in the company, valued at approximately $67,984.65. The trade was a 423.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anthony James Culverwell bought 100,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $0.45 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the director now directly owns 100,317 shares of the company’s stock, valued at $45,142.65. This trade represents a 31,545.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 777,777 shares of company stock valued at $350,000 over the last ninety days. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of QNRX. Altium Capital Management LLC purchased a new stake in Quoin Pharmaceuticals in the 4th quarter valued at $184,000. Renaissance Technologies LLC grew its stake in shares of Quoin Pharmaceuticals by 244.1% in 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 in the fourth quarter valued at about $53,000. Finally, Apollon Wealth Management LLC bought a new position in shares of Quoin Pharmaceuticals during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Price Performance

Shares of NASDAQ:QNRX traded up $0.03 during midday trading on Wednesday, hitting $0.33. 1,265,262 shares of the company’s stock were exchanged, compared to its average volume of 2,292,957. Quoin Pharmaceuticals has a 12 month low of $0.28 and a 12 month high of $1.74. The company has a market cap of $1.64 million, a PE ratio of -0.08 and a beta of 1.72. The stock has a 50 day moving average price of $0.44 and a 200-day moving average price of $0.57.

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.