Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 6.6% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) fell 6.6% on Monday . The company traded as low as $8.26 and last traded at $8.57. 332,532 shares changed hands during trading, a decline of 76% from the average session volume of 1,358,660 shares. The stock had previously closed at $9.17.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Tonix Pharmaceuticals in a report on Monday, February 10th. They issued 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 stock has a fifty day simple moving average of $26.53 and a two-hundred day simple moving average of $22.56. The firm has a market capitalization of $15.76 million, a P/E ratio of 0.00 and a beta of 2.07.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC acquired a new stake in Tonix Pharmaceuticals in the fourth quarter worth $40,000. Two Sigma Investments LP bought a new position in shares of Tonix Pharmaceuticals during the 4th quarter worth about $66,000. PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals in the 4th quarter valued at about $72,000. Northern Trust Corp bought a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $162,000. Finally, Point72 Asset Management L.P. acquired a new position in Tonix Pharmaceuticals during the 4th quarter worth approximately $526,000. Institutional investors and hedge funds own 82.26% of the company’s stock.

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.