Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 5.8% - Should You Sell?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) traded down 5.8% on Friday . The company traded as low as $40.06 and last traded at $39.89. 209,785 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 964,429 shares. The stock had previously closed at $42.36.

Wall Street Analysts Forecast Growth

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

Tonix Pharmaceuticals Price Performance

The firm has a market cap of $314.73 million, a P/E ratio of -0.02 and a beta of 2.05. The stock's 50-day simple moving average is $32.58 and its two-hundred day simple moving average is $24.41.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly earnings data 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 1,313.87% and a negative return on equity of 120.96%. The company had revenue of $2.43 million for the quarter, compared to analyst estimates of $2.55 million. As a group, sell-side analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity

In other Tonix Pharmaceuticals news, CEO Seth Lederman acquired 4,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $21.55 per share, with a total value of $86,200.00. Following the transaction, the chief executive officer directly owned 4,005 shares of the company's stock, valued at $86,307.75. The trade was a 80,000.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.03% of the company's stock.

Institutional Trading of Tonix Pharmaceuticals

A number of large investors have recently made changes to their positions in TNXP. IFP Advisors Inc bought a new stake in Tonix Pharmaceuticals during the 1st quarter valued at about $179,000. Rhumbline Advisers bought a new stake in shares of Tonix Pharmaceuticals during the first quarter valued at approximately $244,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tonix Pharmaceuticals in the first quarter valued at approximately $405,000. Royal Bank of Canada bought a new stake in shares of Tonix Pharmaceuticals in the 1st quarter valued at about $610,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Tonix Pharmaceuticals in the 4th quarter worth approximately $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.