Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.92 and traded as high as $48.80. Tonix Pharmaceuticals shares last traded at $46.91, with a volume of 1,478,283 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TNXP. Wall Street Zen raised Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Alliance Global Partners reiterated a "buy" rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, June 3rd.

Tonix Pharmaceuticals Trading Down 0.8%

The firm's 50-day moving average price is $35.20 and its 200 day moving average price is $24.82. The company has a market capitalization of $329.36 million, a price-to-earnings ratio of -0.02 and a beta of 2.05.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its 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 company had revenue of $2.43 million for the quarter, compared to analyst estimates of $2.55 million. As a group, equities research analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Insider Activity

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 4,000 shares of the firm's 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 owned 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc acquired a new stake in shares of Tonix Pharmaceuticals in the first quarter valued at about $179,000. Rhumbline Advisers acquired a new position in shares of Tonix Pharmaceuticals in the 1st quarter worth approximately $244,000. Caitong International Asset Management Co. Ltd purchased a new stake in Tonix Pharmaceuticals during the first quarter worth about $405,000. Royal Bank of Canada acquired a new stake in Tonix Pharmaceuticals in the 1st quarter valued at about $610,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth about $40,000. 82.26% of the stock is currently owned by 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.