Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 2.4% - Here's Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price traded down 2.4% on Friday . The stock traded as low as $34.25 and last traded at $34.67. 108,969 shares changed hands during trading, a decline of 88% from the average session volume of 935,608 shares. The stock had previously closed at $35.54.

Analysts Set New Price Targets

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

Tonix Pharmaceuticals Stock Performance

The firm has a market capitalization of $256.21 million, a PE ratio of -0.02 and a beta of 2.09. The stock's 50 day simple moving average is $28.20 and its two-hundred day simple moving average is $24.59.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly earnings results 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 net margin of 1,313.87% and a negative return on equity of 120.96%. The business had revenue of $2.43 million during the quarter, compared to analysts' expectations of $2.55 million. Equities research analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Tonix Pharmaceuticals

In other news, CEO Seth Lederman acquired 4,000 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $21.55 per share, with a total value of $86,200.00. Following the completion of the purchase, the chief executive officer now owns 4,005 shares of the company's stock, valued at $86,307.75. This represents a 80,000.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 1,855,907 shares during the period. Jane Street Group LLC increased 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 worth $548,000 after purchasing an additional 1,635,119 shares during the period. Point72 Asset Management L.P. purchased a new stake in Tonix Pharmaceuticals during the 4th quarter worth about $526,000. Northern Trust Corp acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $162,000. Finally, Two Sigma Investments LP purchased a new position in shares of Tonix Pharmaceuticals in 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.

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