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

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) saw a large 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 trading volume of 2,580,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Quoin Pharmaceuticals

An institutional investor recently bought a new position in Quoin Pharmaceuticals stock. Virtu Financial LLC purchased a new stake in shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 30,749 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned 0.77% of Quoin Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 8.63% of the company’s stock.

Quoin Pharmaceuticals Stock Performance

Quoin Pharmaceuticals stock traded up $0.01 during mid-day trading on Thursday, hitting $0.63. The company’s stock had a trading volume of 127,274 shares, compared to its average volume of 952,222. The company has a 50 day moving average of $0.65 and a 200-day moving average of $0.65. The stock has a market cap of $3.16 million, a PE ratio of -0.15 and a beta of 1.85. Quoin Pharmaceuticals has a one year low of $0.48 and a one year high of $6.18.

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.