Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 3.7% – Here’s Why

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) were down 3.7% on Wednesday . The stock traded as low as $13.71 and last traded at $14.65. Approximately 1,371,627 shares were traded during mid-day trading, an increase of 16% from the average daily volume of 1,180,047 shares. The stock had previously closed at $15.21.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Tonix Pharmaceuticals in a report on Sunday, February 2nd. They issued a “hold” rating for the company.

Tonix Pharmaceuticals Price Performance

The stock has a 50-day moving average price of $0.82 and a 200 day moving average price of $0.45. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -0.23 and a beta of 2.07. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC bought a new position in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned approximately 0.12% of Tonix Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

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.