Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 8.8% Higher – Time to Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shot up 8.8% on Wednesday . The company traded as high as $8.60 and last traded at $8.76. 144,378 shares were traded during trading, a decline of 89% from the average session volume of 1,311,083 shares. The stock had previously closed at $8.05.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a research note on Monday, February 10th. They set a “sell” rating on the stock.

Tonix Pharmaceuticals Trading Up 8.8 %

The company has a market cap of $16.36 million, a P/E ratio of 0.00 and a beta of 2.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The stock’s 50-day moving average is $26.53 and its two-hundred day moving average is $22.56.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TNXP. Two Sigma Investments LP purchased a new stake in Tonix Pharmaceuticals in the 4th quarter worth approximately $66,000. Point72 Asset Management L.P. purchased a new stake in Tonix Pharmaceuticals in the fourth quarter valued at $526,000. Jane Street Group LLC raised its stake in shares of Tonix Pharmaceuticals by 5,932.3% during the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock worth $548,000 after purchasing an additional 1,635,119 shares during the last quarter. Northern Trust Corp acquired a new stake in Tonix Pharmaceuticals in the fourth quarter valued at $162,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock valued at $650,000 after purchasing an additional 1,855,907 shares in the last quarter. Institutional investors own 82.26% of the company’s stock.

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.