Quoin Pharmaceuticals (NASDAQ:QNRX) Stock Price Up 4.7% – Here’s Why

Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) shares rose 4.7% during trading on Friday . The stock traded as high as $4.69 and last traded at $4.49. Approximately 20,178 shares traded hands during trading, a decline of 34% from the average daily volume of 30,541 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Quoin Pharmaceuticals presently has an average rating of “Sell”.

Quoin Pharmaceuticals Stock Performance

The firm has a fifty day moving average price of $5.79 and a 200 day moving average price of $9.56. The stock has a market cap of $9.02 million, a PE ratio of -0.15 and a beta of 1.56.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.77) EPS for the quarter, beating the consensus estimate of ($2.17) by $0.40. On average, equities research analysts forecast that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -7.38 earnings per share for the current year.

Hedge Funds Weigh In On Quoin Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ikarian Capital LLC purchased a new position in Quoin Pharmaceuticals in the 4th quarter worth $3,052,000. Millennium Management LLC purchased a new position in Quoin Pharmaceuticals in the 4th quarter worth $1,080,000. SummitTX Capital L.P. purchased a new position in Quoin Pharmaceuticals in the 4th quarter worth $935,000. Boothbay Fund Management LLC purchased a new position in Quoin Pharmaceuticals in the 4th quarter worth $863,000. Finally, ADAR1 Capital Management LLC purchased a new position in Quoin Pharmaceuticals in the 4th quarter worth $840,000. Hedge funds and other institutional investors own 8.63% of the company’s stock.

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. It has a research agreement with Queensland University of Technology; a license agreement with Skinvisible Inc; consulting agreements with Axella Research LLC; and a Master Service Agreement with Therapeutics Inc The company was founded in 2018 and is based in Ashburn, Virginia.