Tonix Pharmaceuticals (TNXP) Sees Large Volume Increase
Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) saw unusually-high trading volume on Wednesday . Approximately 3,084,275 shares traded hands during mid-day trading, an increase of 1,454% from the previous session’s volume of 198,533 shares.The stock last traded at $1.16 and had previously closed at $1.02.
TNXP has been the subject of a number of research reports. Brookline Cap M cut Tonix Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. B. Riley reissued a “neutral” rating and issued a $8.00 target price on shares of Tonix Pharmaceuticals in a report on Friday, July 27th. ValuEngine lowered Tonix Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Roth Capital reissued a “neutral” rating and issued a $1.00 target price (down previously from $6.00) on shares of Tonix Pharmaceuticals in a report on Friday, July 27th. Finally, Brookline Capital Management reissued a “buy” rating on shares of Tonix Pharmaceuticals in a report on Tuesday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Tonix Pharmaceuticals has an average rating of “Buy” and an average price target of $6.00.
The firm has a market capitalization of $8.76 million, a price-to-earnings ratio of -0.41 and a beta of 2.57.
In other news, Director Ernest Mario bought 16,500 shares of the stock in a transaction on Monday, June 25th. The shares were bought at an average price of $4.48 per share, with a total value of $73,920.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gregory M. Sullivan bought 10,000 shares of the stock in a transaction on Thursday, June 14th. The stock was purchased at an average cost of $3.97 per share, for a total transaction of $39,700.00. Following the acquisition, the insider now directly owns 20,482 shares of the company’s stock, valued at approximately $81,313.54. The disclosure for this purchase can be found here. Insiders acquired 42,300 shares of company stock worth $170,237 in the last three months. 4.12% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Tonix Pharmaceuticals stock. Renaissance Technologies LLC grew its stake in Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) by 66.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,300 shares of the company’s stock after acquiring an additional 71,300 shares during the quarter. Renaissance Technologies LLC owned about 2.15% of Tonix Pharmaceuticals worth $798,000 at the end of the most recent quarter. Institutional investors and hedge funds own 13.52% 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 to improve biodefense. Its lead product candidate is TNX-102 SL or Tonmya that is designed as a bedtime administration for posttraumatic stress disorder (PTSD), which is in Phase 3 study in the military-related PTSD population.
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