Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 1.9% - Here's What Happened

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) were up 1.9% on Wednesday . The company traded as high as $38.75 and last traded at $38.44. Approximately 173,439 shares were traded during trading, a decline of 87% from the average daily volume of 1,362,350 shares. The stock had previously closed at $37.74.

Wall Street Analysts Forecast Growth

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

Tonix Pharmaceuticals Trading Down 7.4%

The business has a fifty day moving average of $25.07 and a 200-day moving average of $23.62. The stock has a market capitalization of $234.25 million, a price-to-earnings ratio of -0.01 and a beta of 2.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81.

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

Insiders Place Their Bets

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 4,000 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,005 shares in the company, valued at $86,307.75. This represents a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.03% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Rhumbline Advisers acquired a new position in shares of Tonix Pharmaceuticals in the first quarter valued at $244,000. Royal Bank of Canada bought a new position in shares of Tonix Pharmaceuticals during the first quarter valued at $610,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Tonix Pharmaceuticals during the first quarter valued at $405,000. IFP Advisors Inc bought a new position in shares of Tonix Pharmaceuticals during the first quarter valued at $179,000. Finally, Two Sigma Investments LP bought a new position in shares of Tonix Pharmaceuticals during the fourth quarter valued at $66,000. 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.