Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Short Interest Up 59.4% in March

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 878,500 shares, a growth of 59.4% from the February 28th total of 551,300 shares. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 13.7% of the shares of the company are short sold.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of TNXP. Commonwealth Equity Services LLC bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter worth about $40,000. Two Sigma Investments LP bought a new stake in Tonix Pharmaceuticals during the 4th quarter worth approximately $66,000. PFG Investments LLC purchased a new position in Tonix Pharmaceuticals during the fourth quarter valued at approximately $72,000. Northern Trust Corp bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter worth approximately $162,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Tonix Pharmaceuticals in the fourth quarter worth $526,000. 82.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Tonix Pharmaceuticals in a research report on Monday, February 10th. They set a “sell” rating on the stock. Noble Financial reissued an “outperform” rating and set a $70.00 price target on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Price Performance

NASDAQ TNXP opened at $20.17 on Friday. The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $37.70 million, a P/E ratio of 0.00 and a beta of 2.23. The company has a 50-day moving average price of $18.79 and a 200-day moving average price of $20.16. Tonix Pharmaceuticals has a 52 week low of $6.76 and a 52 week high of $672.00.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($9.77) earnings per share for the quarter, missing the consensus estimate of ($6.23) by ($3.54). Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The business had revenue of $2.58 million during the quarter, compared to the consensus estimate of $3.20 million. Equities research analysts anticipate that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current year.

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.