Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Sees Significant Growth in Short Interest

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 478,400 shares, a growth of 2,391.7% from the October 15th total of 19,200 shares. Based on an average daily volume of 2,580,000 shares, the short-interest ratio is presently 0.2 days.

Quoin Pharmaceuticals Stock Down 3.1 %

Shares of NASDAQ QNRX traded down $0.02 during midday trading on Tuesday, reaching $0.62. 116,881 shares of the company traded hands, compared to its average volume of 959,720. The stock’s 50-day simple moving average is $0.65 and its 200-day simple moving average is $0.65. Quoin Pharmaceuticals has a 12 month low of $0.48 and a 12 month high of $6.18.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A hedge fund recently bought a new stake in Quoin Pharmaceuticals stock. Virtu Financial LLC bought a new position in shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,749 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.77% of Quoin Pharmaceuticals as of its most recent SEC filing. 8.63% of the stock is currently owned by hedge funds and other institutional investors.

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.