Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s share 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 equities research analysts have commented on the stock. Alliance Global Partners reissued a "buy" rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th.

Tonix Pharmaceuticals Trading Down 0.6%

The company has a market capitalization of $345.26 million, a P/E ratio of -0.02 and a beta of 2.05. The company's 50 day moving average is $35.20 and its 200-day moving average is $24.87.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $2.55 million. Analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Seth Lederman bought 4,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was bought at an average cost 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 in the company, valued at $86,307.75. The trade was a 80,000.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TNXP. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 1,855,907 shares during the period. Jane Street Group LLC lifted its holdings in 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 last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at approximately $526,000. Northern Trust Corp acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at $162,000. Finally, Two Sigma Investments LP bought a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth $66,000. Institutional investors and hedge funds 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.