Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 0.4% – Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price dropped 0.4% during trading on Tuesday . The stock traded as low as $28.85 and last traded at $30.40. Approximately 844,399 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 685,221 shares. The stock had previously closed at $30.51.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TNXP. StockNews.com started coverage on shares of Tonix Pharmaceuticals in a research report on Monday, February 10th. They set a “sell” rating on the stock. Noble Financial reiterated an “outperform” rating and set a $70.00 target price on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Price Performance

The firm has a 50-day simple moving average of $18.54 and a 200 day simple moving average of $19.89. The firm has a market cap of $54.92 million, a PE ratio of -0.01 and a beta of 2.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($9.77) EPS for the quarter, missing the consensus estimate of ($6.23) by ($3.54). Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The business had revenue of $2.58 million for the quarter, compared to the consensus estimate of $3.20 million. As a group, equities analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Institutional Trading of Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP purchased a new stake in shares of Tonix Pharmaceuticals in the fourth quarter worth $66,000. Point72 Asset Management L.P. bought a new position in Tonix Pharmaceuticals in the 4th quarter worth about $526,000. Jane Street Group LLC increased its stake in Tonix Pharmaceuticals by 5,932.3% during the 4th quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock valued at $548,000 after purchasing an additional 1,635,119 shares in the last quarter. Northern Trust Corp purchased a new position in Tonix Pharmaceuticals in the fourth quarter worth about $162,000. Finally, Geode Capital Management LLC lifted its stake in shares of Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock worth $650,000 after buying an additional 1,855,907 shares in the last quarter. Hedge funds and other institutional investors own 82.26% of the company’s stock.

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.