Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 54.5% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares traded up 54.5% on Thursday . The stock traded as high as $16.95 and last traded at $16.93. 6,687,768 shares traded hands during trading, an increase of 1,096% from the average session volume of 559,142 shares. The stock had previously closed at $10.96.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Tonix Pharmaceuticals in a research note on Monday, February 10th. They set a “sell” rating for the company.

Tonix Pharmaceuticals Stock Up 35.7 %

The business’s 50 day moving average price is $22.65 and its 200 day moving average price is $21.14. The firm has a market cap of $27.79 million, a price-to-earnings ratio of 0.00 and a beta of 2.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. PFG Investments LLC acquired a new position in Tonix Pharmaceuticals during the fourth quarter worth $72,000. Two Sigma Investments LP acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter worth approximately $66,000. Northern Trust Corp purchased a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth approximately $162,000. Jane Street Group LLC raised its stake in Tonix Pharmaceuticals by 5,932.3% in the 4th quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock valued at $548,000 after purchasing an additional 1,635,119 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Tonix Pharmaceuticals in the 4th quarter valued at $526,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.

Tonix Pharmaceuticals Company Profile

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.