Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 10.1% - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price fell 10.1% during trading on Thursday . The company traded as low as $29.00 and last traded at $33.90. 797,212 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 914,377 shares. The stock had previously closed at $37.71.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TNXP. Alliance Global Partners reissued a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Noble Financial reissued an "outperform" rating and issued a $70.00 price objective on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th.

Tonix Pharmaceuticals Stock Down 7.4%

The firm has a market capitalization of $234.25 million, a PE ratio of -0.01 and a beta of 2.09. The business's 50 day simple moving average is $25.07 and its 200 day simple moving average is $23.65. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released 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. The firm had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. On average, equities research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Transactions at Tonix Pharmaceuticals

In other news, CEO Seth Lederman bought 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, for a total transaction of $86,200.00. Following the acquisition, the chief executive officer now owns 4,005 shares of the company's stock, valued at $86,307.75. The trade was a 80,000.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.03% of the company's stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Tonix Pharmaceuticals by 1,600.1% during the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after buying an additional 1,855,907 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Tonix Pharmaceuticals during the 4th quarter valued at about $526,000. Two Sigma Investments LP bought a new stake in Tonix Pharmaceuticals during the 4th quarter valued at about $66,000. Jane Street Group LLC lifted its holdings in Tonix Pharmaceuticals by 5,932.3% during the 4th quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock valued at $548,000 after buying an additional 1,635,119 shares in the last quarter. Finally, Northern Trust Corp bought a new stake in Tonix Pharmaceuticals during the 4th quarter valued at about $162,000. 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.