Quoin Pharmaceuticals (NASDAQ:QNRX) Shares Down 1.8%

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX)’s share price was down 1.8% on Thursday . The stock traded as low as $0.71 and last traded at $0.72. Approximately 10,044 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 515,527 shares. The stock had previously closed at $0.73.

Analyst Upgrades and Downgrades

Separately, Maxim Group lowered their target price on shares of Quoin Pharmaceuticals from $15.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, March 15th.

Quoin Pharmaceuticals Price Performance

The company has a market capitalization of $2.66 million, a price-to-earnings ratio of -0.07 and a beta of 1.81. The firm’s 50-day simple moving average is $1.63 and its two-hundred day simple moving average is $3.36.

Quoin Pharmaceuticals (NASDAQ:QNRX) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($2.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.37) by $0.29. On average, analysts expect that Quoin Pharmaceuticals, Ltd. will post -9.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Quoin Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in QNRX. Jane Street Group LLC purchased a new position in Quoin Pharmaceuticals during the third quarter worth approximately $26,000. Renaissance Technologies LLC raised its stake in Quoin Pharmaceuticals by 28.8% during the second quarter. Renaissance Technologies LLC now owns 64,932 shares of the company’s stock worth $29,000 after purchasing an additional 14,532 shares during the period. Finally, Virtu Financial LLC purchased a new position in Quoin Pharmaceuticals during the first quarter worth approximately $57,000. 8.63% of the stock is owned by institutional investors and hedge funds.

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.