Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Up 10.4% - Still a Buy?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) traded up 10.4% during mid-day trading on Tuesday . The stock traded as high as $44.30 and last traded at $42.02. 510,990 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 893,020 shares. The stock had previously closed at $38.06.

Analyst Upgrades and Downgrades

A number of research firms have commented on TNXP. Wall Street Zen lowered Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Noble Financial restated an "outperform" rating and issued a $70.00 price target on shares of Tonix Pharmaceuticals in a research report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Performance

The stock's fifty day moving average price is $22.34 and its two-hundred day moving average price is $22.66. The company has a market cap of $285.31 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.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($2.84) earnings per share 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 firm had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.55 million. As a group, equities analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Seth Lederman purchased 4,000 shares of the 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 owns 4,005 shares of the company's stock, valued at approximately $86,307.75. This represents a 80,000.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.03% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Tonix Pharmaceuticals by 1,600.1% in the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after acquiring an additional 1,855,907 shares during the period. Jane Street Group LLC grew its stake 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 worth $548,000 after purchasing an additional 1,635,119 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Tonix Pharmaceuticals in the fourth quarter valued at $526,000. Northern Trust Corp bought a new position in Tonix Pharmaceuticals during the 4th quarter worth $162,000. Finally, Two Sigma Investments LP acquired a new position in Tonix Pharmaceuticals during the 4th quarter worth about $66,000. 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.