Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 12.6% – Time to Sell?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) dropped 12.6% during trading on Thursday . The stock traded as low as $12.53 and last traded at $13.10. Approximately 803,071 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,189,804 shares. The stock had previously closed at $14.98.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a report on Sunday. They issued a “hold” rating on the stock.

Tonix Pharmaceuticals Price Performance

The firm’s fifty day moving average price is $0.60 and its 200 day moving average price is $0.37. The stock has a market cap of $2.37 billion, a PE ratio of -0.24 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.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($2.03) by $1.80. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The company had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $2.63 million. As a group, equities analysts expect that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned about 0.12% of Tonix Pharmaceuticals as of its most recent SEC filing. 82.26% of the stock is owned by hedge funds and other institutional investors.

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.