Quoin Pharmaceuticals Ltd. [QNRX] is -76.75% lower this YTD. Is it still time to buy?

Quoin Pharmaceuticals Ltd. [NASDAQ: QNRX] traded at a low on 08/05/22, posting a -62.38 loss after which it closed the day’ session at $5.29. The company report on August 5, 2022 that Quoin Pharmaceuticals Announces Pricing of $16.8 Million Upsized Public Offering.


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Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a clinical stage, specialty pharmaceutical company focused on rare and orphan diseases, today announced the pricing of its “reasonable best efforts” public offering of 11,050,000,000 ordinary shares represented by 2,210,000 American Depositary Shares at a purchase price of $5.00 per ADS and pre-funded warrants to purchase 5,750,000,000 ordinary shares represented by 1,150,000 American Depositary Shares at a per pre-funded warrant price of $4.9999 (with each ADS and pre-funded warrant accompanied by an ordinary warrant) for an aggregate gross proceeds of $16.8 million.

The closing of the offering is expected to occur on or about August 9, 2022, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for general corporate purposes.

The results of the trading session contributed to over 16130653 shares changing hands. Over the past one week, the price volatility of Quoin Pharmaceuticals Ltd. stands at 164.92% while the volatility over the past one month is 48.02%.

The market cap for QNRX stock reached $9.42 million, with 8.35 million shares outstanding and 5.37 million shares in the current float. Compared to the average trading volume of 925.37K shares, QNRX reached a trading volume of 16130653 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Quoin Pharmaceuticals Ltd. [QNRX]?

The Average True Range (ATR) for Quoin Pharmaceuticals Ltd. is set at 3.74 The Price to Book ratio for the last quarter was 0.02, with the Price to Cash per share for the same quarter was set at 1.46.

How has QNRX stock performed recently?

Quoin Pharmaceuticals Ltd. [QNRX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.64. With this latest performance, QNRX shares dropped by -25.75% in over the last four-week period, additionally sinking by -69.99% over the last 6 months – not to mention a drop of -97.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QNRX stock in for the last two-week period is set at 47.31, with the RSI for the last a single of trading hit 46.09, and the three-weeks RSI is set at 47.51 for Quoin Pharmaceuticals Ltd. [QNRX]. The present Moving Average for the last 50 days of trading for this stock 6.27, while it was recorded at 9.46 for the last single week of trading, and 28.21 for the last 200 days.

Quoin Pharmaceuticals Ltd. [QNRX]: Deeper insight into the fundamentals

Quoin Pharmaceuticals Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.00 and a Current Ratio set at 3.00.

Insider trade positions for Quoin Pharmaceuticals Ltd. [QNRX]

There are presently around $0 million, or 11.40% of QNRX stock, in the hands of institutional investors. The top three institutional holders of QNRX stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 4,032, which is approximately -39.559% of the company’s market cap and around 17.47% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 3,413 shares of the stock with an approximate value of $18000.0 in QNRX stocks shares; and AMERIPRISE FINANCIAL INC, currently with $9000.0 in QNRX stock with ownership of nearly New of the company’s market capitalization.

Positions in Quoin Pharmaceuticals Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 4 institutional holders increased their position in Quoin Pharmaceuticals Ltd. [NASDAQ:QNRX] by around 7,532 shares. Additionally, 7 investors decreased positions by around 12,827 shares, while 1 investors held positions by with 8,794 shares. The mentioned changes placed institutional holdings at 11,565 shares, according to the latest SEC report filing. QNRX stock had 4 new institutional investments in for a total of 7,532 shares, while 6 institutional investors sold positions of 10,188 shares during the same period.

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