Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 4% Higher – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price traded up 4% during mid-day trading on Friday . The stock traded as high as $11.94 and last traded at $11.89. 147,689 shares changed hands during trading, a decline of 90% from the average session volume of 1,470,866 shares. The stock had previously closed at $11.43.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Tonix Pharmaceuticals in a report on Monday. They issued a “sell” rating on the stock.

Tonix Pharmaceuticals Stock Performance

The business’s fifty day simple moving average is $29.12 and its 200-day simple moving average is $25.13. The company has a market capitalization of $21.87 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 quick ratio of 2.81 and a current ratio of 3.33.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Tuesday, November 12th. The company reported ($23.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($203.00) by $180.00. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The firm had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $2.63 million. As a group, equities analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC purchased a new stake in Tonix Pharmaceuticals during the fourth quarter valued at $40,000. PFG Investments LLC purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter worth $72,000. Finally, Geode Capital Management LLC increased its holdings in shares of Tonix Pharmaceuticals by 1,600.1% in 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 during the last quarter. 82.26% of the stock is currently owned by 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.