Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 48.6% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares traded down 48.6% during trading on Monday . The company traded as low as $0.18 and last traded at $0.22. 191,793,903 shares changed hands during mid-day trading, an increase of 77% from the average session volume of 108,651,023 shares. The stock had previously closed at $0.43.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Tonix Pharmaceuticals in a report on Sunday. They set a “hold” rating on the stock.

Tonix Pharmaceuticals Stock Performance

The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $0.30 and its 200-day moving average price is $0.27. The company has a market capitalization of $2.80 billion, a P/E ratio of -0.28 and a beta of 2.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.03) by $1.80. The business had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $2.63 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. As a group, equities analysts expect that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

An institutional investor recently bought a new position in Tonix Pharmaceuticals stock. PFG Investments LLC bought a new stake in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned 0.12% of Tonix Pharmaceuticals at the end of the most recent quarter. Hedge funds and other 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.