Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 1.7% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price fell 1.7% on Thursday . The stock traded as low as $33.41 and last traded at $34.32. 479,527 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 928,652 shares. The stock had previously closed at $34.92.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TNXP shares. Noble Financial restated an “outperform” rating and issued a $70.00 price objective on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th. Alliance Global Partners reiterated a “buy” rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 7th.

Tonix Pharmaceuticals Stock Performance

The stock’s 50-day moving average is $26.74 and its 200 day moving average is $24.13. The stock has a market capitalization of $238.07 million, a PE ratio of -0.02 and a beta of 2.09.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 1,313.87% and a negative return on equity of 120.96%. Analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insiders Place Their Bets

In other Tonix Pharmaceuticals news, CEO Seth Lederman acquired 4,000 shares of the stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of $21.55 per share, with a total value of $86,200.00. Following the transaction, the chief executive officer now owns 4,005 shares of the company’s stock, valued at approximately $86,307.75. This trade represents a 80,000.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc purchased a new position in Tonix Pharmaceuticals during the 1st quarter worth $179,000. Rhumbline Advisers purchased a new position in Tonix Pharmaceuticals during the 1st quarter worth $244,000. Caitong International Asset Management Co. Ltd purchased a new position in Tonix Pharmaceuticals during the 1st quarter worth $405,000. Royal Bank of Canada purchased a new position in Tonix Pharmaceuticals during the 1st quarter worth $610,000. Finally, Commonwealth Equity Services LLC purchased a new position in Tonix Pharmaceuticals during the 4th quarter worth $40,000. 82.26% of the stock is owned by hedge funds and other 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.