Tonix Pharmaceuticals (NASDAQ:TNXP) Sees Large Volume Increase

Shares of Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) saw an uptick in trading volume on Thursday . 34,743,819 shares traded hands during trading, an increase of 10,367% from the previous session’s volume of 331,929 shares.The stock last traded at $1.19 and had previously closed at $0.97.

Several research firms have weighed in on TNXP. ValuEngine lowered Tonix Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Roth Capital cut their target price on Tonix Pharmaceuticals from $4.00 to $1.30 and set a “buy” rating on the stock in a report on Friday, August 30th.

The company has a fifty day simple moving average of $1.50 and a two-hundred day simple moving average of $1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.88 and a quick ratio of 4.88. The company has a market capitalization of $6.03 million, a P/E ratio of 0.00 and a beta of 1.01.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings data on Friday, November 8th. The company reported ($5.69) EPS for the quarter, missing analysts’ consensus estimates of ($4.35) by ($1.34). Equities analysts anticipate that Tonix Pharmaceuticals Holding Corp will post -20.78 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of TNXP. A.R.T. Advisors LLC bought a new position in shares of Tonix Pharmaceuticals in the second quarter worth about $42,000. Acadian Asset Management LLC increased its stake in shares of Tonix Pharmaceuticals by 620.0% in the second 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 during the period. Finally, Vanguard Group Inc. bought a new position in shares of Tonix Pharmaceuticals in the second quarter worth about $117,000. Institutional investors and hedge funds own 35.56% 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.

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