Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 1.7% - Time to Sell?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) fell 1.7% during mid-day trading on Thursday . The company traded as low as $33.41 and last traded at $34.32. 479,527 shares traded hands during trading, a decline of 48% from the average session volume of 928,652 shares. The stock had previously closed at $34.92.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports 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 reissued a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Finally, Noble Financial reissued an "outperform" rating and set a $70.00 target price on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th.

Tonix Pharmaceuticals Trading Down 5.7%

The stock has a market capitalization of $238.17 million, a PE ratio of -0.02 and a beta of 2.09. The firm has a 50 day moving average of $26.74 and a two-hundred day moving average of $24.18.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $2.43 million during the quarter, compared to the consensus estimate of $2.55 million. Equities research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insider Activity at Tonix Pharmaceuticals

In related news, CEO Seth Lederman bought 4,000 shares of the stock in a transaction on Thursday, May 15th. The shares were 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 represents a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.03% of the stock is currently owned by company insiders.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position 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 worth $650,000 after purchasing an additional 1,855,907 shares in the last quarter. 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 valued at $548,000 after purchasing an additional 1,635,119 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at about $526,000. Northern Trust Corp purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at about $162,000. Finally, Two Sigma Investments LP purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at about $66,000. 82.26% of the stock is currently owned by hedge funds and other institutional investors.

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.