Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 2.5% - Here's Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price traded down 2.5% on Monday . The stock traded as low as $31.41 and last traded at $31.54. 145,340 shares were traded during trading, a decline of 84% from the average session volume of 931,394 shares. The stock had previously closed at $32.36.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Alliance Global Partners reissued a "buy" rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, June 3rd. Finally, Noble Financial restated 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 Price Performance

The firm has a market capitalization of $262.53 million, a P/E ratio of -0.02 and a beta of 2.09. The stock has a fifty day moving average of $27.44 and a 200 day moving average of $24.41.

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. The company had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,313.87% and a negative return on equity of 120.96%. Equities analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Insider Buying and Selling at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman bought 4,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were acquired at an average cost 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. The trade was a 80,000.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in TNXP. Geode Capital Management LLC grew its holdings 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 worth $650,000 after purchasing an additional 1,855,907 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Tonix Pharmaceuticals in the 4th quarter worth $526,000. Two Sigma Investments LP bought a new stake in Tonix Pharmaceuticals in the 4th quarter worth $66,000. Jane Street Group LLC grew its holdings in Tonix Pharmaceuticals by 5,932.3% in the 4th quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock worth $548,000 after acquiring an additional 1,635,119 shares during the last quarter. Finally, Northern Trust Corp bought a new stake in Tonix Pharmaceuticals in the 4th quarter worth $162,000. 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.