Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 54.5% – Time to Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was up 54.5% during trading on Thursday . The stock traded as high as $16.95 and last traded at $16.93. Approximately 6,687,768 shares traded hands during mid-day trading, an increase of 1,096% from the average daily volume of 559,142 shares. The stock had previously closed at $10.96.

Analyst Upgrades and Downgrades

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

Tonix Pharmaceuticals Stock Performance

The firm has a market capitalization of $24.33 million, a price-to-earnings ratio of 0.00 and a beta of 2.23. 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 has a 50 day moving average price of $21.65 and a 200-day moving average price of $21.02.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth $66,000. Point72 Asset Management L.P. purchased a new stake in Tonix Pharmaceuticals during the 4th quarter worth about $526,000. Jane Street Group LLC raised its position 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 acquiring an additional 1,635,119 shares in the last quarter. Northern Trust Corp purchased a new stake in Tonix Pharmaceuticals during the fourth quarter worth approximately $162,000. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $650,000 after purchasing an additional 1,855,907 shares in the last quarter. Hedge funds and other 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.