Short Interest in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Declines By 70.2%

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 467,200 shares, a drop of 70.2% from the August 31st total of 1,570,000 shares. Based on an average trading volume of 20,860,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.3% of the shares of the stock are short sold.

Institutional Trading of Tonix Pharmaceuticals

A hedge fund recently raised its stake in Tonix Pharmaceuticals stock. Acadian Asset Management LLC lifted its holdings in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 260.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 335,373 shares of the company’s stock after purchasing an additional 242,358 shares during the period. Acadian Asset Management LLC owned approximately 0.40% of Tonix Pharmaceuticals worth $61,000 at the end of the most recent reporting period. 82.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TNXP has been the topic of several research reports. StockNews.com assumed coverage on shares of Tonix Pharmaceuticals in a research note on Thursday. They issued a “sell” rating on the stock. Alliance Global Partners raised their price objective on shares of Tonix Pharmaceuticals from $6.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Tonix Pharmaceuticals Price Performance

NASDAQ TNXP traded up $0.01 during trading hours on Friday, reaching $0.15. The company had a trading volume of 206,488,984 shares, compared to its average volume of 8,604,815. The stock has a 50-day moving average of $0.34 and a 200 day moving average of $3.25. Tonix Pharmaceuticals has a 1-year low of $0.13 and a 1-year high of $24.16. The company has a current ratio of 1.15, a quick ratio of 0.72 and a debt-to-equity ratio of 0.13.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings data on Friday, August 16th. The company reported ($19.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($9.91) by ($9.37). Tonix Pharmaceuticals had a negative net margin of 1,196.11% and a negative return on equity of 158.27%. The firm had revenue of $2.21 million during the quarter, compared to analyst estimates of $3.50 million. Analysts expect that Tonix Pharmaceuticals will post -18 earnings per share for the current year.

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.