Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 2.8% – Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price dropped 2.8% on Wednesday . The stock traded as low as $13.25 and last traded at $13.25. Approximately 206,690 shares were traded during trading, a decline of 66% from the average daily volume of 606,487 shares. The stock had previously closed at $13.63.

Wall Street Analyst Weigh In

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

Tonix Pharmaceuticals Price Performance

The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $20.40 and its two-hundred day moving average price is $20.29. The firm has a market capitalization of $24.90 million, a price-to-earnings ratio of 0.00 and a beta of 2.23.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. PFG Investments LLC bought a new stake in shares of Tonix Pharmaceuticals in the 4th quarter valued at approximately $72,000. Commonwealth Equity Services LLC acquired a new stake in Tonix Pharmaceuticals in the fourth quarter valued at approximately $40,000. Geode Capital Management LLC grew its position in Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock worth $650,000 after acquiring an additional 1,855,907 shares in the last quarter. Northern Trust Corp acquired a new position in shares of Tonix Pharmaceuticals during the 4th quarter worth $162,000. Finally, 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 valued at $548,000 after purchasing an additional 1,635,119 shares in the last quarter. 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.