Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 4.6% – What’s Next?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) were down 4.6% on Friday . The company traded as low as $13.13 and last traded at $13.95. Approximately 1,317,190 shares changed hands during mid-day trading, an increase of 123% from the average daily volume of 590,475 shares. The stock had previously closed at $14.63.

Analysts Set New Price Targets

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

Tonix Pharmaceuticals Stock Down 12.0 %

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 firm’s fifty day moving average price is $21.65 and its two-hundred day moving average price is $21.02. The stock has a market cap of $24.05 million, a price-to-earnings ratio of 0.00 and a beta of 2.07.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings 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 in the last quarter. Jane Street Group LLC raised its position in 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. Point72 Asset Management L.P. bought a new position in Tonix Pharmaceuticals during the 4th quarter valued at $526,000. Northern Trust Corp purchased a new position in Tonix Pharmaceuticals during the fourth quarter worth about $162,000. Finally, PFG Investments LLC bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at approximately $72,000. 82.26% of the stock is 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.