Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 3.7% - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price traded down 3.7% during mid-day trading on Tuesday . The company traded as low as $33.71 and last traded at $34.65. 212,363 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 946,236 shares. The stock had previously closed at $35.98.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Noble Financial restated an "outperform" rating and issued a $70.00 price target on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th. Alliance Global Partners restated a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th.

Tonix Pharmaceuticals Trading Up 0.9%

The business's 50-day moving average is $30.18 and its two-hundred day moving average is $24.86. The firm has a market cap of $261.17 million, a P/E ratio of -0.02 and a beta of 2.05.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $2.55 million. On average, analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity at Tonix Pharmaceuticals

In other news, CEO Seth Lederman purchased 4,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was acquired at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the transaction, the chief executive officer owned 4,005 shares of the company's stock, valued at approximately $86,307.75. The trade was a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew 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 last quarter. Jane Street Group LLC raised its stake 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 valued at $548,000 after acquiring an additional 1,635,119 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Tonix Pharmaceuticals during the 4th quarter valued at $526,000. Northern Trust Corp bought a new stake in Tonix Pharmaceuticals during the 4th quarter valued at $162,000. Finally, Two Sigma Investments LP bought a new stake in Tonix Pharmaceuticals during the 4th quarter valued at $66,000. Institutional investors own 82.26% of the company's stock.

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.