Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Up 8.8% – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price rose 8.8% during trading on Wednesday . The company traded as high as $8.60 and last traded at $8.76. Approximately 144,378 shares traded hands during trading, a decline of 89% from the average daily volume of 1,311,083 shares. The stock had previously closed at $8.05.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Tonix Pharmaceuticals in a research note on Monday, February 10th. They issued a “sell” rating for the company.

Tonix Pharmaceuticals Stock Up 8.8 %

The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $26.53 and its 200-day simple moving average is $22.56. The company has a market cap of $16.36 million, a PE ratio of 0.00 and a beta of 2.07.

Institutional Trading of Tonix Pharmaceuticals

A number of hedge funds have recently made changes to their positions in TNXP. Two Sigma Investments LP bought a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at about $66,000. Point72 Asset Management L.P. acquired a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at $526,000. Jane Street Group LLC grew its holdings in Tonix Pharmaceuticals by 5,932.3% during the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock valued at $548,000 after purchasing an additional 1,635,119 shares during the period. Northern Trust Corp acquired a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth about $162,000. Finally, Geode Capital Management LLC grew its holdings in shares of Tonix Pharmaceuticals by 1,600.1% during the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock worth $650,000 after buying an additional 1,855,907 shares in the last quarter. 82.26% of the stock is owned by hedge funds and other institutional investors.

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.