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

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) shares traded down 2.8% on Wednesday . The stock traded as low as $38.70 and last traded at $39.30. 235,129 shares changed hands during trading, a decline of 74% from the average session volume of 895,574 shares. The stock had previously closed at $40.45.

Analyst Ratings Changes

Several research analysts have weighed in on TNXP shares. Wall Street Zen downgraded shares of Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Noble Financial reissued 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 Stock Down 1.4%

The firm has a market capitalization of $281.35 million, a P/E ratio of -0.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33. The business's fifty day moving average price is $22.34 and its two-hundred day moving average price is $22.66.

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

Insider Buying and Selling

In other Tonix Pharmaceuticals news, CEO Seth Lederman bought 4,000 shares of the company'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 acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TNXP. IFP Advisors Inc purchased a new stake in shares of Tonix Pharmaceuticals during the first quarter worth approximately $179,000. Rhumbline Advisers acquired a new stake in Tonix Pharmaceuticals in the first quarter valued at $244,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tonix Pharmaceuticals during the 1st quarter worth $405,000. Royal Bank of Canada acquired a new position in shares of Tonix Pharmaceuticals during the 1st quarter worth $610,000. Finally, Commonwealth Equity Services LLC purchased a new stake in Tonix Pharmaceuticals during the 4th quarter worth about $40,000. 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.