Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Up 39.5% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares traded up 39.5% on Monday . The company traded as high as $37.83 and last traded at $32.12. 4,420,354 shares were traded during mid-day trading, an increase of 556% from the average session volume of 674,270 shares. The stock had previously closed at $23.03.

Analyst Upgrades and Downgrades

TNXP has been the subject of several recent analyst reports. StockNews.com assumed coverage on shares of Tonix Pharmaceuticals in a research report on Monday, February 10th. They set a “sell” rating for the company. Noble Financial reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a research report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Down 2.4 %

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 firm’s 50-day moving average price is $18.68 and its two-hundred day moving average price is $20.00. The firm has a market cap of $55.64 million, a PE ratio of -0.01 and a beta of 2.23.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($9.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.23) by ($3.54). Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The company had revenue of $2.58 million during the quarter, compared to analyst estimates of $3.20 million. As a group, equities research analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TNXP. PFG Investments LLC purchased a new position in shares of Tonix Pharmaceuticals during the fourth quarter worth approximately $72,000. Two Sigma Investments LP acquired a new stake in Tonix Pharmaceuticals during the 4th quarter worth $66,000. Northern Trust Corp purchased a new position in Tonix Pharmaceuticals during the 4th quarter worth $162,000. Jane Street Group LLC increased its stake 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 valued at $548,000 after purchasing an additional 1,635,119 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at about $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.