Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 4.6% – Here’s Why

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) fell 4.6% during mid-day trading on Friday . The company traded as low as $13.13 and last traded at $13.95. 1,317,190 shares traded hands during trading, an increase of 123% from the average session volume of 590,475 shares. The stock had previously closed at $14.63.

Analysts Set New Price Targets

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

Tonix Pharmaceuticals Trading Down 11.0 %

The business has a fifty day moving average price of $21.24 and a 200 day moving average price of $20.68. The company has a market capitalization of $24.33 million, a price-to-earnings ratio of 0.00 and a beta of 2.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised 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 in the last quarter. Jane Street Group LLC lifted its position in Tonix Pharmaceuticals by 5,932.3% in the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock worth $548,000 after purchasing an additional 1,635,119 shares during the period. Point72 Asset Management L.P. acquired a new stake in Tonix Pharmaceuticals during the fourth quarter worth $526,000. Northern Trust Corp bought a new stake in Tonix Pharmaceuticals in the 4th quarter valued at $162,000. Finally, PFG Investments LLC acquired a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at $72,000. 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.