Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 8.5% – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) traded down 8.5% on Tuesday . The company traded as low as $10.91 and last traded at $10.94. 494,717 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 1,445,119 shares. The stock had previously closed at $11.95.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a research note on Monday, February 10th. They set a “sell” rating on the stock.

Tonix Pharmaceuticals Stock Performance

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 stock has a 50-day moving average price of $28.69 and a 200-day moving average price of $23.87. The firm has a market capitalization of $20.48 million, a PE ratio of 0.00 and a beta of 2.07.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth approximately $40,000. Two Sigma Investments LP acquired a new position in Tonix Pharmaceuticals during the 4th quarter worth $66,000. PFG Investments LLC bought a new stake in shares of Tonix Pharmaceuticals in the 4th quarter worth about $72,000. Northern Trust Corp acquired a new stake in shares of Tonix Pharmaceuticals in the 4th quarter valued at about $162,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Tonix Pharmaceuticals during the fourth quarter worth about $526,000. 82.26% of the stock is currently 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.