Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 5.8% - Here's Why

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

Wall Street Analyst Weigh In

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

Tonix Pharmaceuticals Trading Down 3.5%

The company has a market capitalization of $300.80 million, a PE ratio of -0.02 and a beta of 2.05. The firm's 50-day simple moving average is $32.58 and its 200-day simple moving average is $24.59.

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

Insider Buying and Selling at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 4,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was purchased at an average price of $21.55 per share, with a total value of $86,200.00. Following the transaction, the chief executive officer owned 4,005 shares of the company's stock, valued at approximately $86,307.75. This trade represents a 80,000.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company's stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Tonix Pharmaceuticals by 1,600.1% in the 4th 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. Point72 Asset Management L.P. purchased a new stake in shares of Tonix Pharmaceuticals in the 4th quarter worth approximately $526,000. Two Sigma Investments LP purchased a new stake in shares of Tonix Pharmaceuticals in the 4th quarter worth approximately $66,000. Jane Street Group LLC lifted its position in shares of Tonix Pharmaceuticals by 5,932.3% in the 4th 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 during the period. Finally, Northern Trust Corp purchased a new stake in shares of Tonix Pharmaceuticals in the 4th quarter worth approximately $162,000. Hedge funds and other institutional investors own 82.26% of the company's stock.

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.