Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 3.2% – Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares traded down 3.2% during trading on Thursday . The stock traded as low as $12.96 and last traded at $12.98. 93,077 shares changed hands during trading, a decline of 85% from the average session volume of 607,855 shares. The stock had previously closed at $13.41.

Analyst Ratings Changes

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

Tonix Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33. The company has a 50-day simple moving average of $19.65 and a 200-day simple moving average of $20.20. The company has a market cap of $28.04 million, a price-to-earnings ratio of 0.00 and a beta of 2.23.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNXP. Commonwealth Equity Services LLC purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at approximately $40,000. Two Sigma Investments LP purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at approximately $66,000. PFG Investments LLC purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at approximately $72,000. Northern Trust Corp purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at approximately $162,000. Finally, Point72 Asset Management L.P. purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at approximately $526,000. Institutional investors and hedge funds 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.