Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Gap Down – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares gapped down before the market opened on Wednesday . The stock had previously closed at $15.21, but opened at $14.21. Tonix Pharmaceuticals shares last traded at $16.27, with a volume of 515,692 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Tonix Pharmaceuticals in a research report on Sunday. They set a “hold” rating on the stock.

Tonix Pharmaceuticals Price Performance

The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -0.29 and a beta of 2.07. The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $0.30 and its 200-day moving average price is $0.27.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $1.80. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The business had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $2.63 million. On average, equities research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current year.

Institutional Trading of Tonix Pharmaceuticals

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC bought a new position in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned 0.12% of Tonix Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 82.26% of the stock is currently owned by institutional investors.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.