Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 8.3% – Should You Sell?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) fell 8.3% during mid-day trading on Tuesday . The company traded as low as $7.93 and last traded at $8.05. 263,638 shares traded hands during trading, a decline of 80% from the average session volume of 1,333,635 shares. The stock had previously closed at $8.77.

Analyst Ratings Changes

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 Stock Down 6.6 %

The stock has a market capitalization of $15.32 million, a price-to-earnings ratio of 0.00 and a beta of 2.07. 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 stock has a 50 day moving average price of $27.04 and a 200 day moving average price of $22.84.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in TNXP. PFG Investments LLC bought a new position in shares of Tonix Pharmaceuticals during the fourth quarter valued at $72,000. Commonwealth Equity Services LLC acquired a new stake in Tonix Pharmaceuticals in the fourth quarter valued at $40,000. Geode Capital Management LLC raised its position 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 purchasing an additional 1,855,907 shares during the last quarter. Northern Trust Corp acquired a new position in Tonix Pharmaceuticals during the 4th quarter worth about $162,000. Finally, Jane Street Group LLC grew its position 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 last quarter. 82.26% of the stock is currently owned by institutional investors and hedge funds.

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.