Millennium Management LLC Sells 77,322 Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)

Millennium Management LLC cut its stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 284,123 shares of the company's stock after selling 77,322 shares during the quarter. Millennium Management LLC owned about 15.19% of Tonix Pharmaceuticals worth $94,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jane Street Group LLC increased its holdings 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 worth $548,000 after acquiring an additional 1,635,119 shares during the period. Northern Trust Corp purchased a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at $162,000. Geode Capital Management LLC increased its holdings 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 purchasing an additional 1,855,907 shares during the period. Finally, Commonwealth Equity Services LLC bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter worth $40,000. 82.26% of the stock is currently owned by institutional investors.

Insider Activity at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 4,000 shares of Tonix Pharmaceuticals stock in a transaction on Thursday, May 15th. The shares were acquired at an average cost of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the transaction, the chief executive officer now directly owns 4,005 shares of the company's stock, 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 filing with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TNXP. Alliance Global Partners reissued a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Noble Financial reissued an "outperform" rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Trading Down 5.5%

Shares of Tonix Pharmaceuticals stock traded down $2.05 on Tuesday, hitting $34.92. 412,645 shares of the company traded hands, compared to its average volume of 926,797. Tonix Pharmaceuticals Holding Corp. has a 12-month low of $6.76 and a 12-month high of $137.25. The company has a market cap of $257.01 million, a P/E ratio of -0.02 and a beta of 2.09. The firm's 50-day simple moving average is $25.76 and its 200 day simple moving average is $23.86.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, beating analysts' consensus estimates of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative return on equity of 120.96% and a negative net margin of 1,313.87%. The business had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.55 million. Analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

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.