Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 8% Higher – Time to Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price shot up 8% during trading on Tuesday . The stock traded as high as $29.09 and last traded at $28.73. 435,182 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 827,183 shares. The stock had previously closed at $26.60.

Analyst Upgrades and Downgrades

TNXP has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a report on Monday, February 10th. They set a “sell” rating for the company. Noble Financial restated an “outperform” rating and set a $70.00 price target on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Up 13.6%

The business’s fifty day moving average is $19.19 and its two-hundred day moving average is $21.05. The company has a market cap of $221.27 million, a P/E ratio of -0.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its earnings results on Monday, May 12th. The company reported ($2.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.23) by $0.39. The business had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $2.55 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. Equities analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insider Activity at Tonix Pharmaceuticals

In related news, CEO Seth Lederman acquired 4,000 shares of Tonix Pharmaceuticals stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the purchase, the chief executive officer now owns 4,005 shares of the company’s stock, valued at approximately $86,307.75. This represents a 80,000.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.03% of the stock is owned by insiders.

Institutional Trading of Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Tonix Pharmaceuticals by 1,600.1% during the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock worth $650,000 after buying an additional 1,855,907 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Tonix Pharmaceuticals by 5,932.3% in the 4th quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock valued at $548,000 after buying an additional 1,635,119 shares during the period. Point72 Asset Management L.P. purchased a new stake in Tonix Pharmaceuticals in the fourth quarter valued at $526,000. Northern Trust Corp acquired a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at about $162,000. Finally, PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at $72,000. Institutional investors and hedge funds 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.