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

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 478,400 shares, an increase 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 days-to-cover ratio is presently 0.2 days.

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 stake in shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ QNRX traded up $0.01 during trading hours on Thursday, hitting $0.63. 127,274 shares of the company traded hands, compared to its average volume of 952,222. The stock has a market capitalization of $3.16 million, a price-to-earnings ratio of -0.15 and a beta of 1.85. The company’s 50 day moving average price is $0.65 and its 200 day moving average price is $0.65. Quoin Pharmaceuticals has a 12 month low of $0.48 and a 12 month high of $6.18.

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.