Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Short Interest Up 5,936.0% in February

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 2,680,000 shares, an increase of 5,936.0% from the February 13th total of 44,400 shares. Based on an average trading volume of 5,370,000 shares, the short-interest ratio is presently 0.5 days. Approximately 55.1% of the shares of the stock are short sold.

Insider Activity at Quoin Pharmaceuticals

In related news, CFO Gordon Dunn purchased 122,221 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $0.45 per share, for a total transaction of $54,999.45. Following the acquisition, the chief financial officer now directly owns 151,077 shares in the company, valued at $67,984.65. This trade represents a 423.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anthony James Culverwell bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $0.45 per share, with a total value of $45,000.00. Following the purchase, the director now owns 100,317 shares of the company’s stock, valued at $45,142.65. The trade was a 31,545.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 777,777 shares of company stock valued at $350,000. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Quoin Pharmaceuticals

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

Quoin Pharmaceuticals Price Performance

Shares of QNRX stock traded down $0.00 during midday trading on Wednesday, hitting $0.30. The company had a trading volume of 87,215 shares, compared to its average volume of 2,269,269. The stock has a market cap of $1.50 million, a price-to-earnings ratio of -0.07 and a beta of 1.82. The company’s 50 day simple moving average is $0.41 and its 200 day simple moving average is $0.56. Quoin Pharmaceuticals has a 52-week low of $0.27 and a 52-week high of $1.57.

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.