Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 2.8% - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) traded up 2.8% on Friday . The company traded as high as $28.09 and last traded at $27.14. 299,932 shares traded hands during trading, a decline of 65% from the average session volume of 853,131 shares. The stock had previously closed at $26.40.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TNXP. Wall Street Zen raised Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. 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 Up 1.9%

The firm has a market capitalization of $276.08 million, a PE ratio of -0.01 and a beta of 1.63. The business has a fifty day moving average price of $21.07 and a two-hundred day moving average price of $21.77. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, beating 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 company had revenue of $2.43 million during the quarter, compared to analysts' expectations of $2.55 million. Analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Insider Buying and Selling at Tonix Pharmaceuticals

In other news, CEO Seth Lederman purchased 4,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the purchase, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth about $40,000. Two Sigma Investments LP purchased a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth approximately $66,000. PFG Investments LLC purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at $72,000. Northern Trust Corp acquired a new position in Tonix Pharmaceuticals in the 4th quarter valued at $162,000. Finally, IFP Advisors Inc acquired a new stake in Tonix Pharmaceuticals in the first quarter valued at about $179,000. 82.26% of the stock is owned by hedge funds and other institutional investors.

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.