Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 6% - Should You Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) dropped 6% during trading on Wednesday . The stock traded as low as $34.50 and last traded at $34.78. Approximately 572,169 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 873,648 shares. The stock had previously closed at $36.99.

Wall Street Analysts Forecast Growth

TNXP has been the subject of several recent analyst reports. Noble Financial reiterated an "outperform" rating and issued a $70.00 price objective on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Tonix Pharmaceuticals Trading Up 9.7%

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The company has a market cap of $302.85 million, a price-to-earnings ratio of -0.01 and a beta of 1.63. The business's 50-day simple moving average is $21.07 and its 200-day simple moving average is $21.77.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($2.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.23) by $0.39. The company had revenue of $2.43 million during the quarter, compared to analysts' expectations of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. Research analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Seth Lederman acquired 4,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 4,005 shares in the company, valued at approximately $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 hyperlink. Company insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A number of institutional investors have recently modified their holdings of TNXP. Geode Capital Management LLC raised 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 buying an additional 1,855,907 shares during the last quarter. Jane Street Group LLC raised its position 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 buying an additional 1,635,119 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at approximately $526,000. Northern Trust Corp acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at approximately $162,000. Finally, PFG Investments LLC acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at approximately $72,000. 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.