Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Up 21.8% – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price shot up 21.8% during mid-day trading on Tuesday . The stock traded as high as $0.49 and last traded at $0.50. 48,603,004 shares were traded during mid-day trading, a decline of 43% from the average session volume of 85,729,586 shares. The stock had previously closed at $0.41.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Tonix Pharmaceuticals in a report on Saturday, January 25th. They issued a “hold” rating for the company.

Tonix Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $0.29 and its 200 day simple moving average is $0.28. 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 stock has a market cap of $70.08 million, a P/E ratio of -0.01 and a beta of 2.02.

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

Hedge Funds Weigh In On Tonix Pharmaceuticals

An institutional investor recently bought a new position in Tonix Pharmaceuticals stock. PFG Investments LLC purchased a new stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned approximately 0.12% of Tonix Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 82.26% of the company’s stock.

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.