Tonix Pharmaceuticals (NASDAQ:TNXP) Sees Unusually-High Trading Volume

Shares of Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) saw strong trading volume on Tuesday . 8,707,134 shares changed hands during trading, an increase of 813% from the previous session’s volume of 954,023 shares.The stock last traded at $0.51 and had previously closed at $0.47.

Separately, ValuEngine cut Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th.

The company has a 50 day moving average of $0.68 and a two-hundred day moving average of $1.71. The firm has a market cap of $7.15 million, a P/E ratio of -0.02 and a beta of 1.54. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.01.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its earnings results on Monday, August 12th. The company reported ($0.95) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.96) by $0.01. Research analysts expect that Tonix Pharmaceuticals Holding Corp will post -4 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $117,000. Acadian Asset Management LLC boosted its position in shares of Tonix Pharmaceuticals by 620.0% in the 2nd quarter. Acadian Asset Management LLC now owns 65,632 shares of the company’s stock valued at $89,000 after purchasing an additional 56,516 shares during the period. A.R.T. Advisors LLC acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $42,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 1.85% 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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