Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 2.4% - Should You Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) rose 2.4% on Monday . The company traded as high as $36.33 and last traded at $35.74. Approximately 286,913 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,303,650 shares. The stock had previously closed at $34.89.

Analyst Upgrades and Downgrades

Several research analysts have commented on TNXP shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd. Wall Street Zen upgraded Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Finally, Noble Financial restated an "outperform" rating and set a $70.00 price target on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Trading Up 1.6%

The firm's 50-day moving average price is $28.59 and its 200 day moving average price is $24.74. The company has a market cap of $260.91 million, a price-to-earnings ratio of -0.02 and a beta of 2.08.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($2.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative net margin of 1,313.87% and a negative return on equity of 120.96%. The company had revenue of $2.43 million for the quarter, compared to analysts' expectations of $2.55 million. Analysts forecast 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 bought 4,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the acquisition, the chief executive officer now directly owns 4,005 shares of the company's stock, valued at approximately $86,307.75. The trade was a 80,000.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company's stock.

Institutional Trading of Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Tonix Pharmaceuticals by 1,600.1% during the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock worth $650,000 after acquiring an additional 1,855,907 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter worth approximately $526,000. Two Sigma Investments LP bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at approximately $66,000. Jane Street Group LLC grew its holdings 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 valued at $548,000 after acquiring an additional 1,635,119 shares in the last quarter. Finally, Northern Trust Corp purchased a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at approximately $162,000. 82.26% of the stock is owned by 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.

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