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

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) gapped down prior to trading on Wednesday . The stock had previously closed at $15.21, but opened at $14.21. Tonix Pharmaceuticals shares last traded at $16.27, with a volume of 515,692 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Tonix Pharmaceuticals in a research note on Sunday, February 2nd. They issued a “hold” rating on the stock.

Tonix Pharmaceuticals Stock Down 11.1 %

The company has a 50-day moving average of $0.82 and a two-hundred day moving average of $0.45. 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 company has a market capitalization of $2.49 billion, a P/E ratio of -0.25 and a beta of 2.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Tuesday, November 12th. The company reported ($23.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($203.00) by $180.00. The firm had revenue of $2.82 million for the quarter, compared to the consensus estimate of $2.63 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. On average, research analysts predict that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned 0.12% of Tonix Pharmaceuticals as of its most recent SEC filing. 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.