Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 18.3% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shot up 18.3% during trading on Wednesday . The stock traded as high as $10.37 and last traded at $9.23. 897,286 shares changed hands during mid-day trading, an increase of 75% from the average session volume of 513,853 shares. The stock had previously closed at $7.80.

Wall Street Analyst Weigh In

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

Tonix Pharmaceuticals Stock Performance

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 has a market capitalization of $21.27 million, a PE ratio of 0.00 and a beta of 2.07. The stock has a 50-day simple moving average of $22.65 and a 200 day simple moving average of $21.14.

Institutional Trading of Tonix Pharmaceuticals

Several large investors have recently modified their holdings of TNXP. PFG Investments LLC purchased a new stake in Tonix Pharmaceuticals in the 4th quarter valued at approximately $72,000. Commonwealth Equity Services LLC acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter worth $40,000. Geode Capital Management LLC lifted its position in shares of Tonix Pharmaceuticals by 1,600.1% in the fourth 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. Northern Trust Corp acquired a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at $162,000. Finally, Jane Street Group LLC increased 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 in the last quarter. 82.26% of the stock is currently owned by institutional investors and hedge funds.

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.