Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 8.2%

Share on StockTwits

Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP)’s stock price dropped 8.2% during mid-day trading on Thursday . The company traded as low as $0.44 and last traded at $0.45, approximately 583,436 shares were traded during trading. A decline of 39% from the average daily volume of 953,777 shares. The stock had previously closed at $0.49.

Separately, ValuEngine lowered shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th.

The stock’s 50-day simple moving average is $0.66 and its 200-day simple moving average is $1.71. The stock has a market cap of $7.15 million, a price-to-earnings ratio of -0.02 and a beta of 1.54. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.01.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its earnings results on Monday, August 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.96) by $0.01. On average, equities research analysts forecast that Tonix Pharmaceuticals Holding Corp will post -4 earnings per share for the current year.

Several large investors have recently made changes to their positions in TNXP. Bank of New York Mellon Corp acquired a new position in shares of Tonix Pharmaceuticals during the 4th quarter worth approximately $38,000. A.R.T. Advisors LLC acquired a new position in shares of Tonix Pharmaceuticals during the 2nd quarter worth approximately $42,000. Acadian Asset Management LLC grew its position in shares of Tonix Pharmaceuticals by 620.0% during the 2nd quarter. Acadian Asset Management LLC now owns 65,632 shares of the company’s stock worth $89,000 after purchasing an additional 56,516 shares in the last quarter. Finally, Vanguard Group Inc. acquired a new position in shares of Tonix Pharmaceuticals during the 2nd quarter worth approximately $117,000. Hedge funds and other institutional investors own 1.85% of the company’s stock.

About Tonix Pharmaceuticals (NASDAQ:TNXP)

Tonix Pharmaceuticals Holding Corp., a clinical-stage biopharmaceutical company, focuses on discovering and developing pharmaceutical products to treat serious neuropsychiatric conditions and biological products to improve biodefense. Its lead product candidate is Tonmyar (TNX-102 SL), a proprietary low-dose cyclobenzaprine and sublingual tablet as a bedtime administration, which is in Phase III development for the treatment of posttraumatic stress disorder (PTSD) and Fibromyalgia; and Phase II development for the treatment of agitation in Alzheimer's disease.

Further Reading: Understanding Average Daily Trade Volume

Receive News & Ratings for Tonix Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tonix Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.