Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 18.3% Higher – Should You Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price shot up 18.3% on Wednesday . The company traded as high as $10.37 and last traded at $9.23. 897,286 shares were traded during mid-day trading, an increase of 75% from the average session volume of 513,853 shares. The stock had previously closed at $7.80.

Analyst Ratings Changes

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

Tonix Pharmaceuticals Price Performance

The company has a 50 day moving average of $22.65 and a 200 day moving average of $21.14. 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 stock has a market capitalization of $21.27 million, a price-to-earnings ratio of 0.00 and a beta of 2.07.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A number of hedge funds have recently made changes to their positions in TNXP. Commonwealth Equity Services LLC acquired a new position in Tonix Pharmaceuticals in the fourth quarter valued at $40,000. Two Sigma Investments LP purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter worth about $66,000. PFG Investments LLC acquired a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at about $72,000. Northern Trust Corp acquired a new stake in Tonix Pharmaceuticals during the 4th quarter worth approximately $162,000. Finally, Point72 Asset Management L.P. purchased a new position in Tonix Pharmaceuticals in the fourth quarter valued at approximately $526,000. Institutional investors and hedge funds 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.