Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Sees Large Increase in Short Interest

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 8,290,000 shares, a growth of 1,674.4% from the September 15th total of 467,200 shares. Based on an average daily volume of 26,220,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 6.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A hedge fund recently raised its stake in Tonix Pharmaceuticals stock. Acadian Asset Management LLC lifted its stake in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 260.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,373 shares of the company’s stock after purchasing an additional 242,358 shares during the quarter. Acadian Asset Management LLC owned 0.40% of Tonix Pharmaceuticals worth $61,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 82.26% of the company’s stock.

Tonix Pharmaceuticals Stock Performance

TNXP stock traded up $0.01 during mid-day trading on Friday, hitting $0.15. The stock had a trading volume of 7,067,327 shares, compared to its average volume of 9,120,168. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.15 and a quick ratio of 0.72. Tonix Pharmaceuticals has a 52 week low of $0.12 and a 52 week high of $22.14. The firm has a fifty day simple moving average of $0.26 and a 200 day simple moving average of $2.51.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its earnings results on Friday, August 16th. The company reported ($19.28) EPS for the quarter, missing the consensus estimate of ($9.91) by ($9.37). Tonix Pharmaceuticals had a negative net margin of 1,196.11% and a negative return on equity of 158.27%. The firm had revenue of $2.21 million during the quarter, compared to the consensus estimate of $3.50 million. On average, equities research analysts expect that Tonix Pharmaceuticals will post -18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TNXP. StockNews.com began coverage on shares of Tonix Pharmaceuticals in a research note on Friday, October 4th. They issued a “sell” rating for the company. Alliance Global Partners lifted their price objective on shares of Tonix Pharmaceuticals from $6.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

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.