Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 8.3% – Here’s Why

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a research report on Monday, February 10th. They set a “sell” rating on the stock.

Tonix Pharmaceuticals Trading Down 6.6 %

The stock has a market capitalization of $15.32 million, a P/E ratio of 0.00 and a beta of 2.07. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $27.04 and a two-hundred day moving average price of $22.84.

Institutional Trading of Tonix Pharmaceuticals

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