Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 8.5% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares fell 8.5% during trading on Tuesday . The company traded as low as $10.91 and last traded at $10.94. 494,717 shares traded hands during trading, a decline of 66% from the average session volume of 1,445,119 shares. The stock had previously closed at $11.95.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Tonix Pharmaceuticals in a research note on Monday, February 10th. They issued a “sell” rating for the company.

Tonix Pharmaceuticals Price Performance

The company has a fifty day simple moving average of $28.22 and a two-hundred day simple moving average of $23.68. 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 market capitalization of $18.08 million, a price-to-earnings ratio of 0.00 and a beta of 2.07.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. PFG Investments LLC purchased a new position in Tonix Pharmaceuticals in the fourth quarter valued at approximately $72,000. Two Sigma Investments LP acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter worth $66,000. Northern Trust Corp acquired a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at $162,000. Jane Street Group LLC boosted its position in Tonix Pharmaceuticals by 5,932.3% during the 4th 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. Finally, Point72 Asset Management L.P. acquired a new stake in Tonix Pharmaceuticals in the 4th quarter valued at $526,000. 82.26% of the stock is owned by hedge funds and other institutional investors.

Tonix Pharmaceuticals Company Profile

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.