Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 10.1% - What's Next?

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

Analyst Ratings Changes

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

Tonix Pharmaceuticals Trading Down 2.5%

The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The stock's 50 day moving average is $24.83 and its 200-day moving average is $23.50. The company has a market cap of $246.74 million, a PE ratio of -0.01 and a beta of 2.09.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its earnings results 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. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The firm had revenue of $2.43 million for the quarter, compared to analysts' expectations of $2.55 million. As a group, sell-side analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Seth Lederman bought 4,000 shares of the company's 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 in the company, valued at $86,307.75. This trade represents a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by insiders.

Institutional Trading of Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in 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 worth $650,000 after buying an additional 1,855,907 shares during the period. Jane Street Group LLC lifted its holdings 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 acquiring an additional 1,635,119 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Tonix Pharmaceuticals during the 4th quarter worth about $526,000. Northern Trust Corp purchased a new position in shares of Tonix Pharmaceuticals during the 4th quarter worth about $162,000. Finally, Two Sigma Investments LP bought a new position in Tonix Pharmaceuticals during the 4th quarter valued at about $66,000. 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.