Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Up 5.7% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares were up 5.7% during mid-day trading on Thursday . The stock traded as high as $12.14 and last traded at $12.15. Approximately 216,635 shares were traded during trading, a decline of 86% from the average daily volume of 1,503,994 shares. The stock had previously closed at $11.50.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Tonix Pharmaceuticals in a research report on Monday. They issued a “sell” rating on the stock.

Tonix Pharmaceuticals Stock Up 2.6 %

The firm has a 50-day moving average price of $29.24 and a 200 day moving average price of $25.22. 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 company has a market cap of $22.06 million, a price-to-earnings ratio of 0.00 and a beta of 2.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($23.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($203.00) by $180.00. The business had revenue of $2.82 million for the quarter, compared to the consensus estimate of $2.63 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. Sell-side analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TNXP. Commonwealth Equity Services LLC bought a new position in Tonix Pharmaceuticals during the 4th quarter worth $40,000. PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals in the 4th quarter valued at about $72,000. Finally, Geode Capital Management LLC grew its stake in shares of Tonix Pharmaceuticals by 1,600.1% in the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock valued at $650,000 after buying an additional 1,855,907 shares during the period. 82.26% of the stock is currently owned by 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.