Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 13.8% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) fell 13.8% during trading on Tuesday . The stock traded as low as $0.15 and last traded at $0.17. 73,990,631 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 113,742,805 shares. The stock had previously closed at $0.19.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Tonix Pharmaceuticals in a research note on Sunday. They set a “hold” rating for the company.

Tonix Pharmaceuticals Stock Down 25.0 %

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 firm’s 50 day moving average price is $0.60 and its two-hundred day moving average price is $0.37. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -0.21 and a beta of 2.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.03) by $1.80. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The business had revenue of $2.82 million during the quarter, compared to the consensus estimate of $2.63 million. Sell-side analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -17.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC bought a new stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned about 0.12% of Tonix Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds 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.