Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 3.7% – Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares were down 3.7% during mid-day trading on Monday . The company traded as low as $11.70 and last traded at $11.94. Approximately 788,735 shares traded hands during trading, a decline of 50% from the average daily volume of 1,588,775 shares. The stock had previously closed at $12.39.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Tonix Pharmaceuticals in a research note on Monday. They set a “sell” rating for the company.

Tonix Pharmaceuticals Trading Down 3.7 %

The stock’s 50 day moving average is $29.36 and its two-hundred day moving average is $25.32. The company has a market capitalization of $21.51 million, a PE ratio of 0.00 and a beta of 2.07. The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07.

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

Institutional Trading of Tonix Pharmaceuticals

Several hedge funds have recently modified their holdings of TNXP. Geode Capital Management LLC lifted its position in shares of Tonix Pharmaceuticals by 1,600.1% during the fourth 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 last quarter. PFG Investments LLC purchased a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at about $72,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at about $40,000. 82.26% of the stock is 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.