Shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX – Get Rating) fell 2.4% during mid-day trading on Wednesday . The stock traded as low as $4.45 and last traded at $4.98. 7,351,853 shares traded hands during mid-day trading, an increase of 1,036% from the average session volume of 646,993 shares. The stock had previously closed at $5.10.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QNRX. LADENBURG THALM/SH SH began coverage on Quoin Pharmaceuticals in a research note on Friday, May 6th. They issued a "buy" rating and a $25.00 price target for the company. Maxim Group cut their price target on Quoin Pharmaceuticals to $25.00 in a research note on Thursday, May 26th.

Quoin Pharmaceuticals Stock Performance

The firm has a 50 day simple moving average of $6.04 and a two-hundred day simple moving average of $11.38.

Institutional Investors Weigh In On Quoin Pharmaceuticals

An institutional investor recently bought a new position in Quoin Pharmaceuticals stock. Virtu Financial LLC bought a new position in shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX – Get Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,665 shares of the company's stock, valued at approximately $57,000. Virtu Financial LLC owned about 0.51% of Quoin Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 21.72% of the company's stock.

Quoin Pharmaceuticals Company Profile

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Quoin Pharmaceuticals, Ltd., a specialty pharmaceutical company, focuses on the development of therapeutic products for rare and orphan diseases. The company's lead product is QRX003, a topical lotion to treat Netherton Syndrome. It also develops QRX004 for the treatment dystrophic epidermolysis bullosa; and QRX006, a therapy to treat rare skin disease.

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