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

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

Analysts Set New Price Targets

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

Tonix Pharmaceuticals Price Performance

The firm has a market cap of $252.60 million, a P/E ratio of -0.02 and a beta of 2.09. The company's 50 day moving average is $26.09 and its two-hundred day moving average is $23.93.

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

Insider Activity at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman acquired 4,000 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Tonix Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted 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 purchasing an additional 1,855,907 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Tonix Pharmaceuticals in the 4th quarter valued at approximately $526,000. Two Sigma Investments LP acquired a new position in shares of Tonix Pharmaceuticals in the 4th quarter worth approximately $66,000. Jane Street Group LLC lifted its position in shares of 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 worth $548,000 after buying an additional 1,635,119 shares during the period. Finally, Northern Trust Corp acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at $162,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

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.