Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 7.7% – Here’s Why

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) dropped 7.7% during mid-day trading on Thursday . The company traded as low as $0.38 and last traded at $0.40. Approximately 34,984,174 shares traded hands during trading, a decline of 67% from the average daily volume of 104,525,602 shares. The stock had previously closed at $0.43.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Tonix Pharmaceuticals in a report on Saturday, January 25th. They issued a “hold” rating for the company.

Tonix Pharmaceuticals Price Performance

The stock has a market cap of $70.08 million, a price-to-earnings ratio of -0.01 and a beta of 2.02. 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 simple moving average is $0.29 and its two-hundred day simple moving average is $0.28.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share 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 analysts’ expectations of $2.63 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. On average, analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -17.63 earnings per share 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 stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 filing with the SEC. 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.