Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 5.9% – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TNXP shares. Noble Financial restated an “outperform” rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a research report on Thursday, March 20th. StockNews.com started coverage on shares of Tonix Pharmaceuticals in a research report on Monday, February 10th. They set a “sell” rating for the company.

Tonix Pharmaceuticals Stock Performance

The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07. The firm 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 50 day moving average price is $18.93 and its two-hundred day moving average price is $20.96.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings results on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.23) by $0.39. 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 $2.43 million for the quarter, compared to analysts’ expectations of $2.55 million. On average, analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insider Activity at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman acquired 4,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost 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 approximately $86,307.75. The trade was a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $40,000. Two Sigma Investments LP acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $66,000. PFG Investments LLC acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $72,000. Northern Trust Corp acquired a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth about $162,000. Finally, IFP Advisors Inc acquired a new stake in shares of Tonix Pharmaceuticals during the 1st quarter worth about $179,000. 82.26% of the stock is owned by institutional investors and hedge funds.

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.