Quoin Pharmaceuticals (NASDAQ:QNRX) Shares Up 2.8% – Still a Buy?

Shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) were up 2.8% on Monday . The stock traded as high as $7.35 and last traded at $7.40. Approximately 3,671 shares changed hands during trading, a decline of 18% from the average daily volume of 4,465 shares. The stock had previously closed at $7.20.

Quoin Pharmaceuticals Trading Up 2.8%

The stock has a market cap of $4.37 million, a P/E ratio of -0.18 and a beta of 1.44. The firm has a 50-day simple moving average of $8.17 and a two-hundred day simple moving average of $8.48.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($6.28) earnings per share for the quarter, topping the consensus estimate of ($6.83) by $0.55. Sell-side analysts predict that Quoin Pharmaceuticals, Ltd. Sponsored ADR will post -2.05 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Quoin Pharmaceuticals stock. Boothbay Fund Management LLC acquired a new position in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 80,712 shares of the company’s stock, valued at approximately $53,000. Boothbay Fund Management LLC owned 1.60% of Quoin Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.63% of the company’s stock.

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.