Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 5.9% – Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) dropped 5.9% during trading on Monday . The stock traded as low as $26.54 and last traded at $26.34. Approximately 505,585 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 823,504 shares. The stock had previously closed at $28.00.

Analyst Upgrades and Downgrades

TNXP has been the topic of a number of analyst reports. Noble Financial reiterated an “outperform” rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th. StockNews.com began coverage on shares of Tonix Pharmaceuticals in a research note on Monday, February 10th. They issued a “sell” rating for the company.

Tonix Pharmaceuticals Stock Down 5.0%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33. The company has a market capitalization of $194.85 million, a price-to-earnings ratio of -0.01 and a beta of 1.63. The stock’s fifty day simple moving average is $18.93 and its two-hundred day simple moving average is $20.96.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings data on Monday, May 12th. The company reported ($2.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.23) by $0.39. The firm had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.55 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. On average, sell-side analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insider Activity at Tonix Pharmaceuticals

In other news, CEO Seth Lederman purchased 4,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $21.55 per share, with a total value of $86,200.00. Following the purchase, the chief executive officer now owns 4,005 shares in the company, valued at $86,307.75. This represents a 80,000.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised 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 valued at $650,000 after purchasing an additional 1,855,907 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Tonix Pharmaceuticals by 5,932.3% in the fourth 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. Point72 Asset Management L.P. acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at $526,000. Northern Trust Corp acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at $162,000. Finally, PFG Investments LLC acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at $72,000. 82.26% of the stock is 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.