Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 8.5% – What’s Next?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) dropped 8.5% during mid-day trading on Tuesday . The stock traded as low as $10.91 and last traded at $10.94. Approximately 494,717 shares traded hands during trading, a decline of 66% from the average daily volume of 1,445,119 shares. The stock had previously closed at $11.95.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Tonix Pharmaceuticals in a report on Monday, February 10th. They issued a “sell” rating for the company.

Tonix Pharmaceuticals Trading Down 8.4 %

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 firm’s 50 day moving average is $28.69 and its two-hundred day moving average is $23.87. The stock has a market cap of $20.48 million, a price-to-earnings ratio of 0.00 and a beta of 2.07.

Institutional Trading of Tonix Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new position in Tonix Pharmaceuticals during the 4th quarter worth $40,000. Two Sigma Investments LP bought a new position in shares of Tonix Pharmaceuticals during the fourth quarter worth about $66,000. PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals in the 4th quarter worth about $72,000. Northern Trust Corp bought a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $162,000. Finally, Point72 Asset Management L.P. acquired a new position in Tonix Pharmaceuticals during the 4th quarter valued at about $526,000. Institutional investors own 82.26% of the company’s stock.

Tonix Pharmaceuticals Company Profile

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.