Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 2.8% - Should You Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) was down 2.8% during trading on Friday . The company traded as low as $33.01 and last traded at $33.58. Approximately 160,971 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 916,872 shares. The stock had previously closed at $34.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Noble Financial reiterated an "outperform" rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th. Wall Street Zen raised shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd.

Tonix Pharmaceuticals Price Performance

The firm has a fifty day moving average of $25.07 and a two-hundred day moving average of $23.65. The stock has a market capitalization of $270.81 million, a P/E ratio of -0.01 and a beta of 2.09. 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 - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.55 million. On average, analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Seth Lederman acquired 4,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $21.55 per share, for a total transaction of $86,200.00. Following the purchase, the chief executive officer now directly owns 4,005 shares of the company's stock, valued at $86,307.75. This trade represents a 80,000.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.03% of the stock is owned by company insiders.

Institutional Trading of Tonix Pharmaceuticals

Hedge funds have recently modified their holdings of the company. IFP Advisors Inc purchased a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at $179,000. Rhumbline Advisers acquired a new stake in Tonix Pharmaceuticals in the first quarter worth about $244,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tonix Pharmaceuticals in the 1st quarter valued at approximately $405,000. Royal Bank of Canada acquired a new position in Tonix Pharmaceuticals during the 1st quarter valued at approximately $610,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Tonix Pharmaceuticals in the fourth quarter worth $40,000. 82.26% of the stock is owned by hedge funds and other institutional investors.

Tonix Pharmaceuticals Company Profile

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.