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

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 274,500 shares, a drop of 42.6% from the October 31st total of 478,400 shares. Based on an average trading volume of 2,590,000 shares, the short-interest ratio is currently 0.1 days.

Quoin Pharmaceuticals Stock Performance

Shares of NASDAQ:QNRX remained flat at $0.60 during trading on Thursday. The stock had a trading volume of 36,627 shares, compared to its average volume of 919,008. The company has a market capitalization of $3.03 million, a P/E ratio of -0.15 and a beta of 1.85. The company has a 50-day simple moving average of $0.63 and a two-hundred day simple moving average of $0.64. Quoin Pharmaceuticals has a fifty-two week low of $0.48 and a fifty-two week high of $6.18.

Institutional Trading of Quoin Pharmaceuticals

An institutional investor recently bought a new position in Quoin Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 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.