Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 9.3% – What’s Next?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price was down 9.3% during trading on Wednesday . The stock traded as low as $9.72 and last traded at $9.94. Approximately 476,972 shares traded hands during trading, a decline of 67% from the average daily volume of 1,424,143 shares. The stock had previously closed at $10.95.

Analysts Set New Price Targets

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

Tonix Pharmaceuticals Stock Down 7.7 %

The stock’s 50-day moving average is $28.69 and its 200-day moving average is $23.87. The stock has a market cap of $18.91 million, a P/E ratio of 0.00 and a beta of 2.07. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. PFG Investments LLC acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $72,000. Commonwealth Equity Services LLC acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $40,000. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 1,855,907 shares during the last quarter. Northern Trust Corp purchased a new stake in Tonix Pharmaceuticals during the fourth quarter valued at about $162,000. Finally, Jane Street Group LLC lifted its stake in Tonix Pharmaceuticals by 5,932.3% during the fourth 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 in the last quarter. 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.