Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 4.1% - Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) shares fell 4.1% during trading on Monday . The stock traded as low as $37.25 and last traded at $38.15. 338,009 shares changed hands during trading, a decline of 62% from the average session volume of 893,316 shares. The stock had previously closed at $39.78.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Noble Financial reissued an "outperform" rating and issued a $70.00 target price on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th. Wall Street Zen cut Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday.

Tonix Pharmaceuticals Trading Up 6.3%

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 stock has a market capitalization of $296.30 million, a PE ratio of -0.01 and a beta of 1.63. The stock has a 50 day moving average price of $21.96 and a 200-day moving average price of $22.55.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its earnings results 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. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The business had revenue of $2.43 million for the quarter, compared to analysts' expectations of $2.55 million. Sell-side analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity at Tonix Pharmaceuticals

In related news, CEO Seth Lederman purchased 4,000 shares of Tonix Pharmaceuticals stock in a transaction on Thursday, May 15th. The stock was acquired at an average price 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 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 SEC, which is accessible through this hyperlink. 0.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Tonix Pharmaceuticals by 1,600.1% during the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after acquiring an additional 1,855,907 shares during the period. Jane Street Group LLC grew its position in shares of Tonix Pharmaceuticals by 5,932.3% during the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock worth $548,000 after purchasing an additional 1,635,119 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth about $526,000. Northern Trust Corp bought a new stake in Tonix Pharmaceuticals during the 4th quarter valued at approximately $162,000. Finally, Two Sigma Investments LP purchased a new position in Tonix Pharmaceuticals in the 4th quarter worth approximately $66,000. 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.