Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) Sees Large Increase in Short Interest

Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 900,700 shares, an increase of 243.4% from the October 31st total of 262,300 shares. Based on an average trading volume of 66,100 shares, the days-to-cover ratio is currently 13.6 days. Currently, 59.3% of the company’s shares are short sold.

Several brokerages recently commented on TNXP. ValuEngine upgraded shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. Roth Capital reduced their price target on shares of Tonix Pharmaceuticals from $4.00 to $1.30 and set a “buy” rating for the company in a research report on Friday, August 30th.

Shares of NASDAQ:TNXP opened at $1.05 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.88 and a current ratio of 4.88. The company has a market cap of $1.95 million, a PE ratio of 0.00 and a beta of 1.23. Tonix Pharmaceuticals has a 52 week low of $1.04 and a 52 week high of $96.00. The firm has a 50 day simple moving average of $1.31 and a 200 day simple moving average of $1.05.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings results on Friday, November 8th. The company reported ($5.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($4.35) by ($1.34). On average, equities analysts predict that Tonix Pharmaceuticals will post -23.5 earnings per share for the current year.

Several large investors have recently modified their holdings of TNXP. A.R.T. Advisors LLC purchased a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at approximately $42,000. Acadian Asset Management LLC lifted its position in Tonix Pharmaceuticals by 620.0% in the 2nd quarter. Acadian Asset Management LLC now owns 65,632 shares of the company’s stock worth $89,000 after buying an additional 56,516 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new stake in Tonix Pharmaceuticals in the 2nd quarter worth approximately $117,000. Institutional investors and hedge funds own 35.56% of the company’s stock.

Tonix Pharmaceuticals Company Profile

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.

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