Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 6.6%
Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) shares dropped 6.6% during trading on Tuesday . The company traded as low as $1.08 and last traded at $1.13, approximately 1,440,733 shares were traded during mid-day trading. An increase of 823% from the average daily volume of 156,155 shares. The stock had previously closed at $1.21.
Several research firms have recently commented on TNXP. Roth Capital decreased their price objective on Tonix Pharmaceuticals from $4.00 to $1.30 and set a “buy” rating on the stock in a research note on Friday, August 30th. ValuEngine upgraded Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th.
The company has a quick ratio of 4.88, a current ratio of 4.88 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.83 million, a PE ratio of 0.00 and a beta of 1.03. The firm’s fifty day simple moving average is $1.41 and its two-hundred day simple moving average is $1.03.
Several hedge funds have recently made changes to their positions in TNXP. Vanguard Group Inc. purchased a new position in shares of Tonix Pharmaceuticals during the 2nd quarter valued at $117,000. A.R.T. Advisors LLC purchased a new stake in Tonix Pharmaceuticals in the 2nd quarter worth $42,000. Finally, Acadian Asset Management LLC increased its stake 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. Hedge funds and other institutional investors 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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