Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 3.6% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) traded down 3.6% during trading on Tuesday . The stock traded as low as $0.22 and last traded at $0.23. 15,196,699 shares traded hands during trading, a decline of 75% from the average session volume of 60,758,266 shares. The stock had previously closed at $0.24.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Tonix Pharmaceuticals in a report on Friday, January 17th. They set a “hold” rating for the company.

Tonix Pharmaceuticals Stock Performance

The firm has a market capitalization of $61.21 million, a PE ratio of -0.01 and a beta of 2.02. 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 company’s fifty day simple moving average is $0.27 and its 200 day simple moving average is $0.29.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($2.03) by $1.80. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The firm had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $2.63 million. As a group, equities research analysts expect that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC bought a new position in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned 0.12% of Tonix Pharmaceuticals at the end of the most recent quarter. 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.