Quoin Pharmaceuticals (NASDAQ:QNRX) Stock Price Down 1.8%

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

Analyst Upgrades and Downgrades

Separately, Maxim Group reduced their price target on Quoin Pharmaceuticals from $15.00 to $4.00 and set a “buy” rating for the company in a report on Friday, March 15th.

Quoin Pharmaceuticals Stock Performance

The firm has a market cap of $2.62 million, a P/E ratio of -0.07 and a beta of 1.81. The firm’s fifty day moving average is $1.53 and its 200 day moving average is $3.32.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($2.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.37) by $0.29. As a group, equities research analysts forecast that Quoin Pharmaceuticals, Ltd. will post -9.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Quoin Pharmaceuticals in the first quarter valued at approximately $57,000. Renaissance Technologies LLC lifted its position in shares of Quoin Pharmaceuticals by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 64,932 shares of the company’s stock valued at $29,000 after acquiring an additional 14,532 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Quoin Pharmaceuticals during the 3rd quarter worth $26,000. 8.63% of the stock is owned by institutional investors and hedge funds.

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.