Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 6.7% Higher – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shot up 6.7% on Wednesday . The company traded as high as $0.55 and last traded at $0.49. 59,902,238 shares were traded during trading, a decline of 42% from the average session volume of 103,490,164 shares. The stock had previously closed at $0.46.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a research report on Saturday. They set a “hold” rating for the company.

Tonix Pharmaceuticals Stock Down 8.3 %

The firm’s 50 day simple moving average is $0.29 and its 200 day simple moving average is $0.28. 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 cap of $78.87 million, a price-to-earnings ratio of -0.01 and a beta of 2.02.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($2.03) by $1.80. The business had revenue of $2.82 million for the quarter, compared to analyst estimates of $2.63 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. Sell-side analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current fiscal year.

Institutional Trading of Tonix Pharmaceuticals

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