Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 2.4% - Should You Sell?

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

Analyst Ratings Changes

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

Tonix Pharmaceuticals Trading Up 3.1%

The stock has a 50-day moving average price of $28.59 and a 200 day moving average price of $24.74. The stock has a market capitalization of $264.81 million, a price-to-earnings ratio of -0.02 and a beta of 2.08.

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

Insider Transactions at Tonix Pharmaceuticals

In related news, CEO Seth Lederman purchased 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of $21.55 per share, with a total value of $86,200.00. Following the acquisition, the chief executive officer owned 4,005 shares in the company, valued at $86,307.75. The trade was a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.03% of the company's stock.

Institutional Trading of Tonix Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers acquired a new position in shares of Tonix Pharmaceuticals during the 1st quarter worth about $244,000. Royal Bank of Canada acquired a new stake in Tonix Pharmaceuticals in the 1st quarter worth about $610,000. Caitong International Asset Management Co. Ltd purchased a new stake in Tonix Pharmaceuticals during the 1st quarter worth approximately $405,000. IFP Advisors Inc purchased a new stake in Tonix Pharmaceuticals during the 1st quarter worth approximately $179,000. Finally, Two Sigma Investments LP acquired a new position in shares of Tonix Pharmaceuticals during the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds 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.