Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 8.5% – Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price dropped 8.5% during trading on Tuesday . The stock traded as low as $10.91 and last traded at $10.94. Approximately 494,717 shares were traded during trading, a decline of 66% from the average daily volume of 1,445,119 shares. The stock had previously closed at $11.95.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Tonix Pharmaceuticals in a report on Monday, February 10th. They set a “sell” rating for the company.

Tonix Pharmaceuticals Stock Down 3.3 %

The stock has a market cap of $18.08 million, a P/E ratio of 0.00 and a beta of 2.07. The firm has a 50 day simple moving average of $28.22 and a two-hundred day simple moving average of $23.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in TNXP. Commonwealth Equity Services LLC acquired a new position in Tonix Pharmaceuticals during the fourth quarter worth about $40,000. Two Sigma Investments LP acquired a new position in Tonix Pharmaceuticals in the fourth quarter worth approximately $66,000. PFG Investments LLC bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at $72,000. Northern Trust Corp acquired a new position in shares of Tonix Pharmaceuticals in the 4th quarter worth $162,000. Finally, Point72 Asset Management L.P. purchased a new stake in Tonix Pharmaceuticals during the fourth quarter valued at about $526,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

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.