Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 1.7% - Here's Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s share price was down 1.7% during trading on Wednesday . The stock traded as low as $33.75 and last traded at $34.34. Approximately 124,338 shares traded hands during trading, a decline of 87% from the average daily volume of 923,646 shares. The stock had previously closed at $34.92.

Wall Street Analysts Forecast Growth

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

Tonix Pharmaceuticals Price Performance

The company has a market cap of $238.17 million, a price-to-earnings ratio of -0.02 and a beta of 2.09. The firm has a fifty day simple moving average of $26.74 and a 200 day simple moving average of $24.18.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($2.84) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.23) by $0.39. The business had revenue of $2.43 million for the quarter, compared to analyst estimates of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,313.87% and a negative return on equity of 120.96%. Analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity

In other Tonix Pharmaceuticals news, CEO Seth Lederman acquired 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $21.55 per share, with a total value of $86,200.00. Following the transaction, the chief executive officer now owns 4,005 shares of the company's stock, valued at approximately $86,307.75. This trade represents a 80,000.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after acquiring an additional 1,855,907 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth approximately $526,000. Two Sigma Investments LP bought a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at approximately $66,000. Jane Street Group LLC raised its stake in shares of Tonix Pharmaceuticals by 5,932.3% in the fourth 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. Finally, Northern Trust Corp acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at $162,000. 82.26% of the stock is 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.