Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Short Interest Up 7,025.5% in June

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,760,000 shares, an increase of 7,025.5% from the May 31st total of 24,700 shares. Based on an average daily trading volume, of 467,900 shares, the days-to-cover ratio is currently 3.8 days. Approximately 58.9% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Tonix Pharmaceuticals in a research note on Friday, June 14th. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Armistice Capital LLC grew its holdings in Tonix Pharmaceuticals by 160.0% in the fourth quarter. Armistice Capital LLC now owns 3,770,000 shares of the company’s stock valued at $1,519,000 after purchasing an additional 2,320,000 shares during the period. Sabby Management LLC acquired a new position in shares of Tonix Pharmaceuticals during the 3rd quarter worth approximately $680,000. Finally, Acadian Asset Management LLC lifted its position in shares of Tonix Pharmaceuticals by 260.6% during the 1st quarter. Acadian Asset Management LLC now owns 335,373 shares of the company’s stock valued at $61,000 after buying an additional 242,358 shares in the last quarter. Hedge funds and other institutional investors own 82.26% of the company’s stock.

Tonix Pharmaceuticals Stock Performance

Shares of TNXP traded up $0.01 during trading hours on Friday, hitting $0.70. The stock had a trading volume of 1,556,650 shares, compared to its average volume of 1,776,299. The firm has a 50-day moving average price of $4.13 and a 200 day moving average price of $8.27. Tonix Pharmaceuticals has a fifty-two week low of $0.60 and a fifty-two week high of $60.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 1.47.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings data on Monday, May 13th. The company reported ($5.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($16.64) by $10.88. The firm had revenue of $2.48 million during the quarter, compared to analysts’ expectations of $4.00 million. As a group, research analysts forecast that Tonix Pharmaceuticals will post -82.43 earnings per share for the current year.

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.